Multi-million pound sale for Megabowl site

August 26, 2015 by  

The Newport Retail Park site that used to be home to the Megabowl has been purchased for a price of £14.35 million, with this set to lead to additional investment and new jobs.

The site, complete with the adjacent buildings and extensive space for vehicle parking, dominates one whole corner of the retail park, which is located in the Spytty district of the town.

The new owners are Otium Real Estate, a leisure property group based in London, who bought it from Welsh firm Johnsey Estates. Speaking to the South Wales Argus, Ashley Blake, Otium’s CEO confirmed that they had acquired the entire leisure park, which totals 122,000 square feet and have big plans for the site, stating:

“We have spent £14.35 million buying the leisure park and will now invest a further £4 million into the site. Work will start on site in the autumn and extend into the spring of next year.”

He went on to confirm that five new outlets that have already agreed to move into the revamped park, with more than 200 jobs expected to be created for people in the area.

Those outlets will also create opportunities for other local businesses, such as places that provide flyer printing in Newport, which can be called on to produce flyers advertising the new shops and restaurants.