Blaenau Gwent Council has purchased the Gwent Shopping Centre in Tredegar as part of its long term regeneration plans for the town.
The acquisition of the privately owned shopping centre has been fully funded through the Welsh Government’s Transforming Towns programme and the UK Government’s Shared Prosperity Fund.
The council said the purchase marks an important step in its ambitions to strengthen Tredegar’s town centre and build on wider regeneration work already underway.
A programme of improvement works has already been put in place under the council’s ownership, while day to day management of the shopping centre will be carried out by managing agents Cooke and Arkwright.
Over the next year, options for the future of the site will be developed, with local residents set to have the opportunity to help shape the long term plans.
Blaenau Gwent Council’s Cabinet Member for Economy and Place, Councillor John Morgan, said:
“It’s our priority to create a thriving local economy and vibrant places to live in and visit across Blaenau Gwent. Gwent Shopping Centre is a key asset in Tredegar, so this is a really positive step forward in the wider regeneration of the town on top of the £20million investment from Pride in Place funding.
“Residents have told us they want us to really focus on improving our towns and owning the shopping centre means we can focus on making immediate improvements for existing businesses, as well as looking at longer-term plans linked to placemaking and external funding opportunities.
“Our developing Blueprint for Growth, Thriving Together, offers a strategic approach to attracting investment into the area, improving wellbeing and reducing inequalities through sustainable employment. In Gwent Shopping Centre we have the fresh opportunity to support existing businesses, encourage start-ups and support new jobs and new skills, as well as developing a valued community space.”
The council has confirmed there will be no change for the businesses currently operating from the shopping centre.
