I know the easy solution would be to make the label a textbox with multiline but this does not solve the problem since I want to render anchor tags inside the text value. Fo
<asp:Label
ID='myLabel'
runat="server"
style="word-wrap:break-word;"
Width="140px"
Text=" This is my label etc... go here <a href='Destn.aspx'>Here</a> to update" />
Add width property and provide any appropriate value whatever you want and add one css style which will wrap the word
Select the dropdown next to the label. Then Press Ctrl + Enter key for Line - break
Edit
It work only when page open in Design Mode
Use <br/>
in your TEXT to create new row in label text.
<asp:Label ID='myLabel'
runat="server"
Text=" This is my label etc... go <br /> here
<a href='Destn.aspx'>Here</a> to update" />
See: <br> - MDN
The HTML
<br>
Element (or HTML Line Break Element) produces a line break in text (carriage-return).