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Newport Leisure Park bought by Monmouthshire council for £21m

Otium Real Estate Newport Leisure ParkOtium Real Estate
Monmouthshire council bosses said the park would give them "an excellent annual return"

A retail park in Newport has been bought by a neighbouring council for £21m.

Monmouthshire County Council said the Newport Leisure Park on Spytty Road was a "well-let long income asset" that would provide "an excellent annual return" to invest in public services.

The out-of-town complex has a 13-screen cinema, shops, restaurants and a gym.

The Conservative-led council bought the 3.2 acre (1.3 hectare) site in Newport from investment firm Otium Real Estate.

Last year, Monmouthshire bought the Castlegate Business Park which lies within its own boundaries in Caldicot.