Major value store chain Poundstretcher has demonstrated its confidence in its Swansea retail park premises by signing a new 15-year lease.

The deal was announced by Worcestershire-based Barberry Developments who recently completed refurbishment of the 12,000 sq ft unit at Lion Way Retail Park as part of its ongoing commitment to the South Wales city.

There are four retail units at the site. One is occupied by Farm Foods while two others - from 1,200 sq ft up to 9,430 sq ft - are available to let on competitive terms.

Barberry director Henry Bellfield said: "Poundstretcher is a very well known brand and a highly valued client of ours so we are delighted that they have agreed to take a new 15-year lease at Lion Way Retail Park. This deal is good news for the overall retail provision in Swansea."

Barberry acquired the first generation retail park from Threadneedle in July 2008. It is located north of Swansea city centre on the established Swansea Enterprise Park with excellent access to junctions 44/45 of the M4. The area is already a significant retail destination with nearby retailers including Tesco Extra, Halfords, Carpetright, PC World and Comet.

Lion Way Retail Park provides 30,000sqft of open A1 retail accommodation. Barberry has been working with existing tenants to improve the car park and landscaping. Whilst the retail park has always been popular the improvements have further boosted trading activity, added Mr Cartwright.

Poundstretcher spokesman Tim Shattock said: "We have been trading successfully at Lion Way Retail Park for many years and we are delighted to demonstrate our commitment to Swansea by signing a new lease with Barberry Developments."

Barberry's announcement follows the recent completion of phase one of its £1 million transformation of the neighbouring Phoenix Retail Park in Swansea, South Wales. The popular shopping destination has had extensive improvements including full refurbishment of six retail units totaling 65,000 sq ft and a major redesign of the car park and access roads.

Mr Bellfield added: "We have also carried out extensive improvements at the neighbouring Phoenix Retail Park which we have made much more car and pedestrian friendly. It is now a very attractive open A1 retail park. We are sure that the work carried out at both retail parks will result in much higher footfall."

The completion of phase one, which includes six units, was marked with the launch of the new Home Bargains store at Easter. Other units in phase one include B&M Retail, operators of the B&M Bargains chain of stores who have taken a new 15-year lease, and Carpet Clearance Superstore. Phase two, the refurbishment of the 20,000 sq ft former Halfords store, will be completed by July.