Town centre’s superstore site for sale at £20m
Major investment opportunity as Asda site goes on the market
LLANELLI’S Asda supermarket and petrol station site is on the market in the region of £20.4m.
Hailed as a major investment opportunity in the heart of the town centre, Asda would still be the tennants of any new owner.
A MAJOR investment opportunity is up for grabs in the heart of Llanelli.
The town’s Asda supermarket and petrol station is on the market in the region of £20.4 million.
The 72,460 sq ft store will remain trading as Asda would still be the tennants of any new owner under the freehold sale.
President of Llanelli Chamber of Trade David Darkin said it was a fantastic investment for a lanlord as an ongoing concern in the trown.
He added: “The Asda site is a primary location in the town centre, and having invested in the site in recent years, such as the petrol station and click and collect station.
“I believe Asda will continue to thrive in the town for many years to come,” he said.
The freehold is on the market with London based property specialists Jackson Criss who describe the site as a “major foodstore and petrol filling station investment opportunity.” Offers are now being accepted in excess of £20,450,000.
Its position next to the town’s St Elli centre means that as a whole the complex attracts with approximately 7 million visitors per annum, which equates to 135,000 per week.
The report adds: “The Asda supermarket is the dominant town centre food store and is the principal anchor of St Elli Centre which was built in 1997 and is the major retail destination within the town centre and surrounding area. The interest is to be be sold as a 999-year-long leasehold interest at a peppercorn rate.”
Jackson Criss added that Llanelli’s regeneration should be an attractive point to any potential buyer, adding: “Llanelli town centre and the surrounding area has undergone significant transformation in the last six years with an estimated £60 million being committed to improve the town centre streetscape and various other cultural and regeneration projects.”
The Asda store in Llanelli town centre.