Plans to combine tourism and leisure for Festival Park

One of Wales' best-known retails parks has been purchased.

Festival Park Outlet Shopping and Leisure Park has been acquired by the London based investor GWM Capital, with Metis Real Estate taking over asset management of the scheme for them. 

Metis will be working closely with the strong onsite team and it’s existing tenants to reinvigorate this unique shopping and outdoor activity destination. 

New exciting plans for the shopping centre and 75 acres of parklands are being worked up, that will reposition Festival Park as an activity and retail hub for Blaenau Gwent borough and the wider region.

The 9,121 sq m (98,175 sq ft) shopping centre opened five years after the National Garden Festival of Wales, that was held on the site in 1992.  It retains a strong mix of major national brands such as Gap; Sports Direct; Poundland; Holland & Barrett and Edinburgh Woollen Mill but also some very high quality local and regional brands that provide a strong point of difference from other more mundane generic shopping schemes.

In a short space of time, Metis have renewed leases with various high profile retailers and are in negotiations with various new entrants currently.

Paul Jones, Director of Metis Real Estate commented that "We are very excited 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.”

Metis are currently putting together final details on a master plan that will reconnect the shopping and parklands into one single cohesive destination.

These plans will be unveiled in the new few weeks.