Monmouthshire County Council has purchased the freehold of Newport Leisure Park for £21m.
The 11-acre site includes a cinema, restaurants, leisure facilities and parking spaces. New housing is also being developed in the area, which is close to the potential new route for the planned M4 link road.
Paul Matthews, CEO of the council, said: ‘We are pleased to have secured a well-let, long income asset that will provide an excellent annual return for the council and help us to sustain our wider service delivery portfolio in the years ahead.
He added: ‘It is the latest addition to our commercial investment portfolio following our recent acquisition of Castle-gate Business and Science Park.’
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