At a time when retailers across the UK are struggling from the impacts of a challenging economic climate and internet shopping, and when retail development activity across the country has fallen to its lowest level for decades, Bargoed is experiencing something of a resurgence as a new town centre facility rises from a five acre man-made plateau on its doorstep.
‘The Plateau’ represents the result of an initiative by the Welsh Government and Caerphilly County Borough Council to improve the town and the locality generally. That effort has resulted in major improvements in infrastructure and transportation. The town centre itself has already benefited from the recently completed 13,600 sq ft library and an £8m ongoing programme of public realm and environmental improvements.
The latest development is the collaboration between the public sector and the securing of private sector funding for the £25m The Plateau Shopping Centre Development. The project is almost unique due to the fact that the scheme, comprising over 100,000 sq ft of retail and leisure space together with a multi-storey car park and cinema, is being built almost entirely upon a manmade plateau. Pauline Elliott, Head of Regeneration and Planning at Caerphilly County Borough Council said, “Flat land is at a premium in the town centre so it was necessary to create a five-acre plateau in order to facilitate this important and major addition to the town centre. In doing so we were able to create some interesting levels such that the new centre will both link with the existing High Street, and also enjoy a commanding position overlooking the valley and the new town by-pass.”
The first phase of the development incorporates a 55,000 sq ft Morrisons supermarket plus seven shops and nearly 400 spaces in a multi-storey car park. All will be open for Christmas 2013. The second phase will include a six-screen cinema and a restaurant, which will follow shortly thereafter.
Graeme Cosgrove of the project developers, Simons Developments, said, “This really is a unique and amazing development. At a time when many High Streets are suffering and retail developments across the country are being delayed or abandoned, it has been incredibly rewarding to be involved in this impressive regeneration project. The scheme is a credit to the efforts of Welsh Government and the Local Authority, but the support of Morrisons Supermarkets and our private funders, Rockspring Property Investment Managers, has also been critical. It has been quite an engineering feat as well. I am delighted to say that the project is on programme and on budget and our agents confirm significant interest from the retail sector. Our construction team have been updating locals as often as possible, with newsletters and viewing portals, alongside dedicated Facebook and Twitter accounts set up for the project and interested parties.”
To ensure the success of the scheme, Caerphilly County Borough Council took the ‘unusual but pro-active’ step of assuming responsibility for the letting of the unit shops. Pauline Elliott confirmed, “This is a very significant regeneration project for the town and the letting of the shops is extremely important to us. By taking the initiative we are able to control the lettings so as to ensure the optimum tenant mix to deliver the outputs and improvements for which the scheme is designed. Our agents tell us that there is significant interest and we are confident that all of the space will be occupied when the scheme opens in time for Christmas of this year. This will give the town a very timely boost and improve its profile. There is a whole industry which focuses the shopping centre sector and which closely monitors shopping centre openings. Given the lack of development elsewhere, this year all eyes are on Bargoed. This is a massive achievement for all concerned.”
Simons were represented by Savills of Bristol and I Metcalfe & Co. The letting of the retail units, which vary from 1,300 sq ft to 13,000 sq ft, is being handled on behalf of the Council by Cooke & Arkwright and I Metcalfe & Co, both of Cardiff.