Advertisement

  1. ITV Report

Monmouthshire council buys leisure park for £21m

Credit: Monmouthshire County Council

Monmouthshire County Council has bought Newport Leisure Park on Spytty Road in Newport for £21m.

It includes a dominant 13-screen cinema, a gym, a superstore, an adventure park and a range of restaurants.

The council says the park has seen new investment in the past three years as well as many new tenants so that it is now fully let.

We are pleased to have secured a well-let, long income asset that will provide an excellent annual return for the Council and help us to sustain our wider service delivery portfolio in the years ahead.

Newport Leisure Park serves a large catchment area in South Wales and taps into the long-term demand for experiential consumer spend and leisure activities. It is the latest addition to our commercial investment portfolio following our recent acquisition of Castle-gate Business and Science Park

– Paul Matthews, CEO of Monmouthshire County Council