Council’s ‘once in a generation opportunity’ secured with purchase

8 February 2022
  • St Tydfil's Shopping Centre purchased for Merthyr Tydfil CBC by Cooke & Arkwright

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Acting on behalf of Merthyr Tydfil County Borough Council, Cooke & Arkwright have successfully secured the purchase of the St Tydfil Shopping Centre. The centre provides circa 180,000 sq ft of retail accommodation in 48 unit shops, a 50-stall internal market hall, and 25, three-bed, maisonettes, located in two separate blocks.

St Tydfil’s is situated in the heart of the town centre on a large site of 4.5 acres and immediately adjacent to both the council-owned new and former bus stations. It also has direct access onto the High Street and backs onto the River Taff and Avenue De Clichy. It therefore represents a significant and highly strategic purchase for the Council.

MTCBC have ambitious plans to regenerate the town centre. The acquisition of St Tydfil’s therefore fundamentally alters the opportunities and potential to transform and deliver on their place-making ambitions.

The purchase allows the Council to asset manage the centre while developing their wider regeneration plans and delivering a retail offer with wider commercial, leisure and residential opportunities, fit for purpose in the present generation.

Cooke & Arkwright have been retained by the Council to assist in the ongoing management of St Tydfil’s, and also in an agency and lease advisory capacity.

Graham Davies who coordinated and negotiated the purchase for the Council from Patrizia says, “This acquisition represented a once in a generation opportunity for the Council. The purchase opens so many opportunities and is a springboard for the Council to deliver on their aspirational plans for the town centre.

“It has been a pleasure working alongside the Officers and Members of the Council to secure the purchase. There is a collective desire to improve the town centre and create a fit for purpose environment for the people of Merthyr. It has been a pleasure to be part of the acquisition process and we look forward to being part of the future developments plans for the town.”   

Mansford has expanded its investment portfolio over the last few years. Over this time Andrew West has provided us with a full rating valuation service which has involved giving a view on liabilities prior to acquisitions, as well as conducting negotiations with Valuation Officers on our UK estate. The portfolio includes a wide range of properties from shops, offices and pubs to major leisure schemes. He has been particularly successful in mitigating our liabilities to empty property rate, which has been an issue on acquisition prior to implementing our development and letting strategy. I have no hesitation in recommending Andrew's expertise in rating valuation for all property types. The profile of property within his portfolio and the successes achieved are testament to his position as an extremely accomplished rating practitioner.

Leopold Hall, Partner, Mansford LLP