00:00Two major investments owned by Ciel Financial, Long Circular Mall and the True Value supermarket
00:16chain are now up for sale.
00:19The sale process for both assets was approved by the High Court on September 11 last year.
00:25And less than four months later, the search for buyers is in full swing.
00:30True Value is a supermarket chain that operates five locations across Trinidad – Dago Martin,
00:35San Juan, File Park Plaza, Trinity Mall and Long Circular Mall.
00:40Together, these supermarkets span a total of 183,000 square feet.
00:46Its Trinity Mall location was recently expanded to 65,000 square feet, making it the largest
00:52supermarket in the country.
00:54According to joint liquidators, the locations of True Value stores in high-traffic areas
01:00have made it one of the most visible supermarket chains in the country.
01:04One of those locations is Long Circular Mall, itself up for sale.
01:09Described as a long-standing icon in the local retail landscape by liquidators, Long Circular
01:14Mall is owned and operated by Plaza Development Ltd.
01:19The mall boasts 130 commercial units with a total gross leasable area of 173,000 square
01:28feet spread across five levels.
01:31It currently has an occupancy rate of 82% and offers 455 secured parking spaces.
01:39Also on the market is Trinity Mall.
01:42After Ansem Akal, which was previously named the preferred bidder in 2023, withdrew from
01:48the transaction.
01:50The joint liquidators at Grand Thornton have identified Trinity Mall as their top priority
01:56for the next six months.
01:58Previously, the CL Financial Group had sold other prime real estate assets, including
02:04Val Park Shopping Plaza and Atlantic Plaza.
02:08This is Vishana Pargu reporting for InsideBusiness.
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