Tourism and leisure plans for one of Wales’ best known retail parks
PLANS to turn one of Wales’ best known retail parks into a new tourism attraction and shopping destination have been revealed.
It comes as the Festival Park Outlet Shopping and Leisure Park in Ebbw Vale was acquired by London-based investor GWM Capital.
The scheme’s retail element extends to nearly 100,000 sq ft with 75 acres of parkland, where a number of tourism and leisure schemes are now being considered.
The new owner, which has appointed Metis Real Estate to asset management the scheme, is working on a master plan to reposition the site into what it described as being a “new activity and retail hub” for Blaenau Gwent and the wider region.
The shopping centre opened five years after the National Garden Festival of Wales was held on the site in 1992.
Its tenants include Gap, Sports Direct, Poundland, Holland & Barrett and Edinburgh Woollen Mill as well as a number of local retailers.
Metis has renewed leases with a number of retailers and is in negotiations with a number of potential new tenants.
Paul Jones, director of Metis Real Estate, said: “We are pleased to be advising GWM Capital on the Festival Park site and retailing centre.
“The legacy of the former garden festival site has provided a unique destination with tremendous potential.
“We are currently working on a master plan with a range of partners that will springboard the shopping centre and parklands into a major shopping destination and tourist attraction.
“We are delighted that many of our current retailers have recommitted to the scheme in recent months and we are currently in talks with some major retailers and attractions that will support our strategy of re-energising the centre and parklands.
“Very positive meetings with existing retailers, Blaenau Gwent County Borough Council and the Welsh Government have taken place and we expect shortly to be in a position to unveil an exciting masterplan detailing our new vision for this unique destination.”