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Birmingham Post
Birmingham Post
Business
Sion Barry

Wales' biggest shopping centre acquired as part of a £138m deal

The biggest shopping centre in Wales has been acquired as part of a £138m deal.

Commercial property and investment firm, LCP Group, has bought the Cwmbran Centre (formerly known as Cwmbran Shopping Centre) near Newport and the Galleries shopping centre in Washington, Sunderland, from M&G Real Estate. The deal takes group’s retail acquisitions over the past 12 months to a record £300m.

Cwmbran Centre has 180 retail units over 740,000 sq ft, including a 48,000 sq ft Primark. Its anchor tenant is Asda with a 100,000 sq ft store. Other brands include JD Sports, River Island, Superdrug, New Look and Deichmann. The shopping centre has 3,000 free car parking spaces and a dedicated bus station.

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