Company Announces Relocation Plans for Lancaster Auction

By Sue Kennedy, 19 March 2015 – 

L&K Group Plc, our Parent Company, has just announced to its shareholders that it has taken an option over some land close to Junction 33 of the M6 at Galgate for the purpose of exploring relocation of Lancaster Auction Mart to J33. There is no timescale on any possible relocation and we will keep all our customers informed of any progress being made.

The Chairman, John Drinkall, stated in his letter to shareholders:

"The option agreement has now been legally signed thus allowing your directors to formally enter in to all necessary discussions for the eventual relocation of Lancaster Auction Mart to J33 and to maximise the potential sale revenue of the existing 8 acre site on Wyresdale Road. The success of J36 Rural Auction Centre at Crooklands has given your directors the confidence to replicate the business model for users of Lancaster Auction and much wider surrounding area.
There is a long way to go involving discussions with Lancaster City Council for the development of a new Auction Centre, potential developers of a new site and also of the existing site when the time comes to relocate, plus talks with anchor tenants at a new site. There is no immediate timescale for these plans which will be dictated by a number of external factors, including the current landowner’s own relocation plans, obtaining necessary planning permission and negotiating the right deal for the eventual sale of the current site. By acquiring the rights to purchase this ideal site, close to the M6 and within the Lancaster City boundary, customers and shareholders can have confidence that the future of Lancaster Auction Mart is secured for many years to come. It is fitting that in this year of celebrating 50 years on our current site, the directors are looking to safeguard the future of livestock marketing and farm business prosperity in the region for the next generations of farmers by taking this next step."

We are all excited about the future for Lancaster Auctoin Mart and look forward to your continuing custom as we prepare the way for the next 50 years and beyond.

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