Hopes for shop sale (From Free Press Series)

Hopes for shop sale

A DEAL for the sale of the old Co-operative building in Commercial Street, Pontypool, could be signed soon.

A price for the four-story building has been agreed between owners Hyper Value and an unnamed developer who plans to use it for a retail and office development.

Newport-based vendors Hutchins and Thomas, who are acting on behalf of the anonymous developer, confirmed negotiations were ongoing and that they hoped to confirm the sale soon.

"While I cannot name the developer I can confirm we are negotiating the finer points of the offer and that a price has been agreed," said Mr Hayden Thomas, a director of Hutchins and Thomas. If the deal is successful then the developer plans to use the bottom 3,000 square foot floor as a retail opportunity with offices above."

The art-deco style building is owned by discount specialist Hyper Value who up until the mid-nineties ran one of its stores from there. Since then it has remained empty; being labelled an eyesore by locals and attracting little interest from developers. Even TV presenter Janet Street-Porter condemned it on a visit to the town in 1996.

Mark Gregory, owner of the Bread of Heaven caf just a few doors down from the building, welcomed the proposed deal.

He said: "This is the last blot on the town and any developer looking to use it as retail outlet is a good thing. I would be behind a project like that 100 percent because it would be a tremendous boost for the town and Commercial Street in particular."

Cllr Lyn Irwin added: "An economic development like this would be good for the town. My only hope would be that the building does not lose its 1930's decor. All we need now is for someone to take over the empty Tesco store."

The proposed deal is another boost for the town's regeneration drive with the Crane Street and Clarence Hotel developments well under way and the new Tesco store up and running.