Merlin’s Walk enjoys surge in new lettings

Centre at full occupancy

7 December 2017

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Cooke & Arkwright has announced multiple new lettings at Merlin’s Walk shopping centre in Carmarthen. This includes a new 10 year lease to Specsavers, which joins local supplier and coffee house Steamin’ Mugs near to TK Maxx, Argos, Poundland and Pep & Co.

Further lettings made over the past 18 months include to Cancer Research, the sandwich chain Subway and gift shop Hawkins Bazaar. In addition and after many years of successful trading at the centre, leading games retailer GAME has now also agreed a new lease in a new unit.

Merlin’s Walk owner, NewRiver REIT plc, has worked over the past two years to attract a mix of occupiers into the centre, in order to position it as a vibrant mixed-use retail and leisure destination.

Independent commercial property specialist Cooke & Arkwright are instructed by NewRiver REIT plc as letting agent. 

Huw Thomas, Director in Cooke & Arkwright’s Retail & Leisure agency team, said: “Merlin’s Walk is now operating at full occupancy, serving some 60,000 shoppers in the town centre each week. The surge in lettings over the past 18 months demonstrates that there’s still a strong appetite for high street retail centres offering shoppers a diverse mix of products and services. Merlin’s Walk is performing strongly and contributing to creating a vibrant environment in the town.

“We know from our involvement with NewRiver REIT plc on its other ownerships across Wales that it adopts a proactive approach to asset management, continually looking to offer diverse identities and new directions.”

Charles Bevan-Barratt, Manager of Merlin’s Walk shopping centre, said: “The last few months have been incredibly exciting for Merlin’s Walk. It’s been fantastic to welcome Hawkins Bazaar, Specsavers and Subway into the centre, and to see the centre at full occupancy and home to a variety of well-known and independent retailers that meet the needs of our diverse customer base.

“The introduction of these shops has helped give the centre a new lease of life, which has been reflected in an increase in footfall over the last two months. We’ve had a fantastic response to the events we’ve been holding in the centre and are looking forward to the festive season with activities and pop-ups planned for centre throughout the next few months.”

Cooke & Arkwright is joint letting agent with Jackson Criss at Merlins Walk.

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