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Birmingham Post
Birmingham Post
Business
Sion Barry

One of Wales' biggest shopping centres boosted with a string of new lettings

One of Wales’ biggest shopping centres has secured a string of new tenants.

Cwmbran Centre, in Cwmbran, which extends to 740,000 sq ft, has signed up Geek Retreat, H&T Pawnbrokers, USA Toys, and Star Sports Bet.

Geek Retreat, a gaming shop and cafe that has franchises across the UK, has agreed a 10-year lease. Both NJ H&T Pawnbrokers and bookmaker Star Sports have also entered into 10-year leases. USA Toys has entered into a five-year lease.

The shopping centre – formerly known as Cwmbran Shopping Centre – was acquired earlier this year by commercial property and investment company LCP Group in a £138m deal that also included the Galleries shopping centre in Sunderland, from M&G Real Estate.

Adam Martin, director and head of the Bristol Office of LCP, said: “After taking ownership of the centre earlier this year, we said we would work hard to attract new tenants.

“To have four occupiers sign simultaneously demonstrates our commitment to making sure our retail centres work for the local communities who want to have access to a wide range of services. Cwmbran Centre is a prime shopping destination in the area and we’re keen to bring in new names, whether they are established high street favourites or local entrepreneurs.”

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 and there are 3,000 free car-parking spaces and a dedicated bus station.

It currently has only seven unlet units. LCP wouldn’t disclose the shopping centre’s current annual rental income.

Headquartered in the West Midlands, LCP’s retail portfolio comprises more than 9.4 million sq ft at more than 370 sites.

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