SamTruelove published Mole Valley District Council spends more than £11 million...

Mole Valley District Council have bought an Asda in Wales for more than £11 million.The authority purchased the supermarket, in Ystalyfera, for £11.5 million and says the buy will generate around £600,000 per year until the tenancy runs out in 2037.That means the council can expect to earn approximately £12m in total throughout the tenancy – a profit of around £500,000. Asda remain the shop's tenant.Councillor Charles Yarwood, deputy leader of Mole Valley...

from Surrey Mirror All Content Feed http://www.surreymirror.co.uk/8203-why-mole-valley-district-council-recently-bought-a-supermarket-in-wales/story-30440408-detail/story.html