M&G reports bumper year for retail in Welsh new town
New letting deals at Cwmbran Shopping Centre, owned by M&G Real Estate, have continued throughout the recent recession.
Cwmbran town has welcomed a number of new fashion retailers over the past year, including ladies fashion retailer Roman Originals, who is now trading on a 4,200 sq ft unit at 3 The Mall, and Boots Opticians, who are now fitting out 29 Gwent Square totalling 1,500 sq ft having taken a new 10-year lease.
The new retailers are joining high street menswear retailer Blue Inc. which recently started trading under a five-year lease on a 3,900 sq ft unit at 1 The Mall, alongside branded footwear retailer tReds who committed to a 10-year lease on a 2,650 sq ft unit at 7 The Mall.
Simon Phipps, director and retail and asset manager at M&G Real Estate, says: “Roman Originals and Boots Opticians join an already successful and ever-improving retail offer at Cwmbran Shopping. The retailers understand that our scheme is established as a community focal point with over 170 shops serving 18 million customers annually.
"Cwmbran has avoided the scars of recession, escaping what was a very difficult period for retailers across the country. Thanks to our commitment to driving changes based on consumer desires and needs, we ensure customers receive free parking and continuously enhanced accessibility. This approach has instilled confidence among tenants in Cwmbran Shopping’s ability to maximise performance.”
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