THE OWNERS of the Cwmbran Centre have bought the adjacent centre which is home to a Vue cinema, Hollywood Bowl and several restaurants.  

LCP Group, a commercial property and investment company, has bought Leisure@Cwmbran for an undisclosed fee.

This comes almost exactly a year after the group purchased Cwmbran Centre as part of a £138 million deal.

Leisure@Cwmbran contains an eight-screen Vue cinema, a 20-lane Hollywood Bowl, six restaurants – including a Harvester, German Doner Kebab, Tiffins Indian Buffet, and Kaspa's, Simply Gym, a tanning salon, and an independent college.

LCP Group managing director James Buchanan said this latest acquisition confirms the group’s long-term commitment to the Cwmbran.

“Cwmbran Shopping Centre has been a huge success story for us in the past 12 months, with our experienced team of asset managers attracting over 20 new tenants, taking total occupancy to 95 per cent, so when the opportunity arose to add the adjacent leisure complex to our portfolio, we didn’t hesitate,” he said.

“This is a significant and attractive acquisition and one that reaffirms our intentions for investing in Cwmbran.

“We’ve already demonstrated how our intensive asset management has made the main retail destination a much more attractive place to visit and we’re ready to do the same with Leisure@Cwmbran.

“There have been a number of lease renewals recently, which shows how strong an asset it is, and there is only one vacant unit.

“We are already in serious discussions with potential restaurants, which are keen to have a presence in Cwmbran, and I hope we can announce a new tenant in the coming weeks.”

Alex Williams, LCP asset manager, said: “We’ve worked incredibly hard to improve the adjacent centre, with almost 50 transactions on the scheme last year.

“We're pleased to have the opportunity to manage Leisure@Cwmbran, which ideally complements the shopping centre and we look forward to delivering continued success in the year ahead.”