Homeware retailer Dunelm is opening a major new store in South Wales.
The 51,000 sq ft outlet at the Cwmbran Centre, in Cwmbran, is scheduled to open in the autumn after it agreed a 10 year lease with LCP which owns an manages the shopping centre.
Dunelm will take space which was occupied by M&S before it closed the outlet in 2019. Since then the space has been occupied on a temporary basis by One Below, which is relocating to a more permanent location at 2-4 Monmouth Walk at the 740,000 sq ft Cwmbran Centre, which was previously known as the Cwmbran Shopping Centre.
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Dunelm has not confirmed how many jobs will be created. Alex Williams, of LCP, said: “We know from the regular customer feedback we carry out that the Dunelm announcement will be welcomed by shoppers.
“Attracting Dunelm to the centre is a huge coup and we’re absolutely thrilled it has committed to opening here. We are looking forward to it opening later this year.”
Will Thomas, partner at KLM Real Estate, which jointly markets the scheme on behalf of LCP with Cardiff-based EJ Hales, said: “This is a major letting for the town centre and is the first of several key transformational deals we are working on. Cwmbran continues to buck the trend with rising footfall and performance. Dunelm are a great fit for the town.”
GCW acted for Dunelm on the letting deal.
Since LCP acquired the centre in 2021, it has increased occupancy to 95% - its highest rate in the past five year. Last year it recorded footfall of 19.75 million people– an 8% increase (1.5 million) on the previous year.
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As well as Dunelm, LCP has also signed up coffee shop business, Coffee#1 to the centre. The coffee shop chain, which has 113 outlets, has agreed a five year lease for a 2,250 sq outlet. The shop, which will create 10 jobs, is expected to open next month.
Managing director of Coffee#1 Bruce Newman, said: “Cwmbran is a great fit for Coffee#1, given strong brand awareness in the area, similarity of demographic profile to many successful existing sites and high seven-day per week footfall."
Coffee#1 was originally set up in Cardiff by entrepreneur James Shapland, before being sold to brewing and hospitality firm SA Brain & Co. It is now owned by Caffe Nero. Mr Shapland is behind fast-expanding coffee shop business, Coffi Lab.
Earlier this year LCP, acquired the Leisure@Cwmbran scheme next to the Cwmbran Centre. The scheme includes an eight-screen Vue cinema, 20-lane Hollywood Bowl plus six restaurant units, including a Harvester, German Doner Kebab and Pepe’s Peri Peri.
Based in the West Midlands LCP, which is part of M Core, has one of the largest privately held commercial property portfolios in the 海角视频. It has a strong appetite for investment and is actively seeking opportunities across the country, with £300m available to invest for assets ranging from £500,000 to £30m.