In March 2019, our investment agency team advised Monmouthshire County Council on the freehold acquisition of Newport Leisure Park, a fully let long income asset.
The 141,000 sq ft property includes a dominant 13-screen Cineworld cinema, xercise4less gym, Home Bargains superstore, Energi Adventure park and a range of restaurants including McDonalds, Burger King, Pizza Hut and Harvester. The large 11-acre site includes 705 free car spaces and links through to Newport Retail Park and Tesco Extra on the eastern side of the city.
The Park is in a prime location in South Wales and has seen significant new investment in the past three years as well as many new tenants so that it is now fully let.
Following the acquisition, Alder King has been retained to manage the property and provide advice in lease advisory, building consultancy, rating and other associated services.