One of Wales biggest shopping centres has been boosted with a series of retailers renewing leases.
Owner and manager of Cwmbran Centre, in commercial property and investment company LCP, described the nine deals as “significant”, adding that it demonstrated there is a strong future for retail in Cwmbran
Starbucks, Jeffries Jewellers, Warren James, Peacocks and Bonmarche have agreed five-year leases, while H Samuel and the three Greggs stores have also renewed.
The shopping centre, which extends to 740,000 sq ft and was previously known as Cwmbran Shopping Centre, was acquired earlier this year by LCP in a £138m deal that also included the Galleries shopping centre in Sunderland, from M&G Real Estate.
Cwmbran Centre has 180 retail units, anchored by a 100,000 sq ft Asda store. It also has a 48,000 sq ft Primark outlet.
Other brands include JD Sports, River Island, Superdrug, New Look and Deichmann It recently signed up as signed up Geek Retreat, H&T Pawnbrokers, USA Toys, and Star Sports Bet as new tenants.
The centre currently has a 95% occupancy rate.
Alex Williams, asset manager at LCP, said: “Since we acquired Cwmbran Centre at the beginning of the year, we’ve been busy getting to know the tenants and the local community, so it’s great news for shoppers that these nine retailers have already renewed their leases.
“We have a further tranche of new lettings and renewals being finalised, which we look forward to revealing over the next few weeks
“As a major retail destination, the centre benefits from a diverse mix of tenants and Cwmbran remains in a strong position, which can only be good news for the local economy and for shoppers who enjoy coming here.”
Headquartered in the West Midlands, LCP’s retail portfolio comprises more than 9.400,000sq ft at more than 370 sites.
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