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.

Blake Morgan committed to 29,000 sq ft office in the exciting Central Square development. We retained Ben Bolton and his team some time ago to advise and appraise options in the lead up to this significant move of our Cardiff Office. The business is extremely pleased with the outcome and Ben's negotiations and attention to detail was a major part to this.

Philip Jardine, Blake Morgan LLP