Asda firm snaps up £9m estate

AN INDUSTRIAL estate in Fife has been sold to the property holding company of Asda for nearly £9 million.

Donibristle Industrial Estate in Dalgety Bay was sold by Stockland Halladale to McLagen Investments for £8.95m.

Stockland Halladale originally acquired the 11.7-acre site from BAE Systems for £1.8m in 2005 and subsequently sought, and was granted, detailed planning consent to build a supermarket on a 5.12-acre part of the site.

Construction commenced in June 2007 for the standalone supermarket, which will be occupied by Asda, with premises extending to 37,000 sq ft and car parking for around 300 vehicles.

David Lockhart, executive chairman at Stockland Halladale, said: "We have exited and profitably disposed of the development realising enhanced value."