Asda Property Holdings and Harris Ventures have finished their 25,000 sq ft (2,325 sq m) extension of the Cwmbran retail park in South Wales and spentÂŁ1.7 million on a refurbishment programme.
The scheme was developed in 1988 and the landlord has extended the scheme to 136,000 sq ft (12,635 sq m) with the development of a 17,500 sq ft (1,625 sq m) unit for Currys and 7,500 sq ft (695 sq m) for Motorworld.
Currys has taken a 15-year lease atÂŁ14 per sq ft (ÂŁ150 per sq m) and Motorworld has taken a 15-year lease atÂŁ14.25 per sq ft (ÂŁ154 per sq m). The Currys deal involved a relocation from a smaller unit of 8,970 sq ft (835 sq m). The landlord took a surrender of this lease and re-let it to Dreams Beds on a 20-year lease atÂŁ15 per sq ft (ÂŁ160 per sq m).Wilkinson Williams acted for Asda Property Holdings. Geo Hallam & Sons acted for Motorworld.
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