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Jobs lined up for Principality’s new Cwmbran branch

wantspacegotspace.co.uk - Principality Building Society, Cooke & Arkwright, Huw Thomas - Jobs lined up for Principality’s new Cwmbran branchWith refurbishment and fit-out works well under way, Principality Building Society is on track to open a new 2,420 sq ft dual-branch in Cwmbran Shopping Centre in December 2012, creating five new jobs and providing financial as well as property services via its Estate Agents, Peter Alan. The unit, formerly occupied by Pizza Hut, was acquired on a 15 year lease on behalf of Principality by Huw Thomas, Director of Retail at Cooke & Arkwright.

Cwmbran is one of the largest and most successful shopping centres in the UK with an annual footfall of almost 18 million (350,000 per week) and rising, and a vacancy rate of only 3%.  It has over 170 shops and 3,000 free car parking spaces, and a number of retailers have opened shops in recent weeks, including high street multiples Jack & Jones and Select, plus local independent traders Jeffries Fine Jewellers, DK Sebastian and Biothecare Cwmbran.  In 2011, it was Wales’ only entry in a Sunday Times shortlist of the most resilient towns in the country, showing growth in footfall and spending over the past three years, despite the recession.

“Principality’s new branch is strategically located on General Rees Square next to Primark and the 776 space car park, which is one of the main entrances to the centre,” said Mr Thomas.  “We are delighted to have found suitable premises for Principality, which will add to the mix in this vibrant location.”

Steve Thomas, Head of Corporate Property and Development at Principality said, “While other financial services providers have chosen to withdraw from the high street, we are constantly looking for opportunities to further expand our branch network to meet the needs of our members within their communities. Cwmbran is a very popular shopping destination and we are excited to be bringing a modern dual branch here, offering a first-class face to face financial service as well as dealing with any property needs via our subsidiary estate agents, Peter Alan. Cooke & Arkwright have been integral to the process of acquiring this property and we thank them for their work on this.”  

The new premises will be Principality’s 53rd branch in Wales and Peter Alan will relocate from its present outlet at North Walk in Cwmbran.

E J Hales and Cushman & Wakefield acted on behalf of the landlord in the deal.

Posted by The Editor (wantspacegotspace) on 19th November 2012 (updated 21/11/2012)

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