Blaenau Gwent Council has bought Gwent Shopping Centre in Tredegar as part of long-term and ambitious regeneration plans for the town.
The purchase of the privately owned shopping centre has been 100 percent funded from the Welsh Government’s Transforming Towns programme and the UK Government’s Shared Prosperity Fund.
Under the Council's ownership, a programme of improvement works has been put in place and day to day management will be carried out by manging agents Cooke and Arkwright. Options for the future will be developed over the next year, with the local community having the opportunity to have their say and shape plans.
Blaenau Gwent Council’s Cabinet Member for Economy and Place, Cllr 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 purchase means no change for the existing businesses on site.
