East Lindsey District Council have voted to sell the Louth Cattle Market this afternoon (Wednesday July 23).
The council voted 24-13 in favour, with five abstentions.
The sale to McLagan Investments Ltd C/O ASDA Stores Ltd, is subject to contract and to planning consent being secured.
It is anticipated that a planning application will be submitted by McLagan Investments Ltd in the coming months.
Portfolio Holder for Finance at the Council, Councillor John Upsall, said: “The Council has a very clear duty to ensure taxpayers receive good value for money and I’m pleased Council voted to sell this significantly underused site. Not only is it underused; it would have required hundreds of thousands of pounds of investment over the coming years to maintain it in its current form.
“The Council will now consider in detail options for replacing the Livestock Market facility.”
The sale value remains commercially confidential at this time.
Check the Louth Leader website for updates.