Rival bidders for Llanelli's St Elli Shopping Centre
Llanelli's St Elli Shopping Centre is up for sale with offers invited in excess of £33 million.
And a bidding war has started such is the interest in the busy centre.
Owners Axa have already had two potential investors for the Centre which attracts electronically recorded footfall figures in excess of seven million a year-that’s 135,000 a week.
The investors have visitors the Centre and the Llanelli Showcase which illustrates the dramatic £60million developments in the town.
The 130,000sq ft Centre which has 24 units anchored by the 70,000sq ft Asda Store attracts an annual net rental of more than £2.5million.
Carmarthenshire County executive board member for regeneration Cllr Clive Scourfield: said: “The marketing of St Elli by Axa is a really exciting development and shows a great confidence in Llanelli.
“Ownership of shopping centres often passes from company to company as a result of changing circumstances. The Centre is being marketed because it is well let and to benefit from the increased interest in the town of Llanelli as a result of the huge regeneration underway, particularly the adjoining development at East Gate delivering this year a multi-screen Odeon Cinema, hotel. Offices, restaurants, additional shops, a car park and bus station.
"Carmarthen’s £74- million St Catherine’s Walk changed hands in January within two years of opening which just goes to show how fluid this market is within little noticeable impact on the shopper.
"The big advantage of having a new owner for St Elli is that a fresh approach could be taken with new ideas incorporated which will help keep St Elli Centre up to speed with the combined £60-million exciting developments happening around the Town Centre, with East Gate, Y Ffwrnes, Llanelly House, Llanelli Library, and ADREF.
“The time is certainly ripe for the current owners to cash in on their considerable investment and for others to maximise potential in the burgeoning new Llanelli.”
St Elli Centre manager and Llanelli Chamber of Trade and Commerce President Andrew Stephens agreed there were exciting times ahead. “People are starting to look at Llanelli with fresh eyes because of the radical regeneration programme being carried out in the town.
And a bidding war has started such is the interest in the busy centre.
Owners Axa have already had two potential investors for the Centre which attracts electronically recorded footfall figures in excess of seven million a year-that’s 135,000 a week.
The investors have visitors the Centre and the Llanelli Showcase which illustrates the dramatic £60million developments in the town.
The 130,000sq ft Centre which has 24 units anchored by the 70,000sq ft Asda Store attracts an annual net rental of more than £2.5million.
Carmarthenshire County executive board member for regeneration Cllr Clive Scourfield: said: “The marketing of St Elli by Axa is a really exciting development and shows a great confidence in Llanelli.
“Ownership of shopping centres often passes from company to company as a result of changing circumstances. The Centre is being marketed because it is well let and to benefit from the increased interest in the town of Llanelli as a result of the huge regeneration underway, particularly the adjoining development at East Gate delivering this year a multi-screen Odeon Cinema, hotel. Offices, restaurants, additional shops, a car park and bus station.
"Carmarthen’s £74- million St Catherine’s Walk changed hands in January within two years of opening which just goes to show how fluid this market is within little noticeable impact on the shopper.
"The big advantage of having a new owner for St Elli is that a fresh approach could be taken with new ideas incorporated which will help keep St Elli Centre up to speed with the combined £60-million exciting developments happening around the Town Centre, with East Gate, Y Ffwrnes, Llanelly House, Llanelli Library, and ADREF.
“The time is certainly ripe for the current owners to cash in on their considerable investment and for others to maximise potential in the burgeoning new Llanelli.”
St Elli Centre manager and Llanelli Chamber of Trade and Commerce President Andrew Stephens agreed there were exciting times ahead. “People are starting to look at Llanelli with fresh eyes because of the radical regeneration programme being carried out in the town.
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