Facelift and market revival plans for Tredegar’s shopping centre

31 May 2019
  • Gwent Shopping Centre, Cooke & Arkwright
  • Gwent Shopping Centre, Cooke & Arkwright
  • Gwent Shopping Centre, Cooke & Arkwright
  • Gwent Shopping Centre, Cooke & Arkwright

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The new landlord of Gwent Shopping Centre in Tredegar has announced plans for a capital injection to revitalise the outlet’s presence in the area. Rugby Property Assets Ltd, which purchased the 81,000 sq ft retail property in November 2018, said that the shop units will be refurbished and updated to occupation-ready state.

New signage and branding will be installed along with flower and foliage displays, and external works to improve the facade will take place along with some landscaping.

Rugby Property is also supporting local proposals to establish an indoor market in a 5,000 sq ft unit originally occupied by The Original Factory Shop. Permanent stalls will provide opportunities for local, independent retailers to help create a unique offering in the centre.

Ben Davies, Associate with Cooke & Arkwright’s Retail & Leisure agency and letting agent on the scheme said, “It’s fair to say that the centre had been neglected in recent years so Rugby Property’s investment, combined with their pro-active asset management style is very welcome, demonstrating commitment to the scheme’s future.

“The landlord is willing to be flexible with new lease negotiations to encourage local as well as national operators to increase the occupancy rates within the scheme. A good mix of independent shops and leisure outlets will help to create a more attractive destination. The proposed indoor market, which appears to have good support locally, would contribute to this.”

Greggs, the UK’s largest bakery chain, has relocated from U17 to U12b in the scheme, which is a larger premises opposite Fresh Active Gym. Other key occupiers include Home Bargains, Farm Foods, New Look and Boots.

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