Dunelm set to join Cwmbran Centre

Dunelm has agreed to open at Cwmbran Centre, after signing a 10-year lease for a former Marks & Spencer store at the Welsh scheme.

The home furnishings retailer agreed the move with the site owner and manager LCP, part of M Core, and is expected to open at the centre this autumn.

Following M&S’ departure in May 2019, the 51,000 sq ft store at 5 South Walk has most recently been occupied by One Below which is set to move to a permanent residence at 2-4 Monmouth Walk.

Will Thomas, partner at KLM Real Estate, which jointly leases the Cwmbran scheme alongside EJ Hales on behalf of LCP, said: “This is a major letting for the town centre and is the first of several key transformational deals we are working on. Cwmbran continues to buck the trend with rising footfall and performance. Dunelm are a great fit for the town.”

LCP said that since it acquired Cwmbran Centre, it has increased occupancy rates to 95%, the highest figure in five years, and recorded footfall of 19.75 million people last year, an 8% increase year-on-year.

The group snapped up the centre, which is home to 180 shops totalling over 740,000 sq ft of retail space, for £138m from M&G Real Estate in 2021.