LCP Group, the national commercial property and investment company, acquired the centre in Cwmbran at the beginning of last year and has since implemented a programme to improve the diversity of tenants. In the last 12 months, LCP’s experienced team have attracted 22 new stores – both high street names and independent stores – including Loungers, which took over a former unit that had lain empty for more than ten years.
Since taking ownership, the centre has 95% occupancy, its highest rate in the past five years. Alex Williams, of LCP, said: “A combination of intensive asset management, ensuring that we attract the right names that we are confident will do well at Cwmbran Centre, and society getting back to a more normal way of life post Covid-19 restrictions, has resulted in a bumper year for the centre.”
LCP has continued its commitment to investing in Cwmbran, with the acquisition of the neighbouring prime leisure complex, Leisure@Cwmbran. The dominant leisure facility in the South Wales town, has an eight-screen Vue cinema, 20-lane Hollywood Bowl complex plus six restaurant units, including a Harvester, German Doner Kebab and Pepe’s Peri Peri. A tanning salon, gym and an independent college are also on the site.