A huge day for Newport as Friars Walk opens its
anticipated Friars Walk retail and leisure destination was today opened by
the leader of Newport City Council, Councillor Bob Bright, in the presence
of the First Minister of Wales, Carwyn Jones, and Paul Sargent, Chief
Executive and Co-Founder of Queensberry Real Estate.
Paul Sargent, Chief
Executive and Co-founder of Queensberry Real Estate said:
“The opening of the £117 million Friars Walk development is a
major milestone for the city of Newport. It has turned around the retail
and leisure offer in the city, while giving a significant boost to the
local economy through £90 million of direct investment. Friars Walk
has also helped to uplift Newport’s job market through the creation
of 1,200 jobs on site worth £15 million in salaries a year. This is
already having a positive knock on effect with other occupiers having been
attracted back to vacant shop units and new employers taking office space
in the city, including Lloyds Bank, Admiral Insurance and the Office of
As a result of Friars Walk, Newport’s catchment
will grow from 211,000 to 367,000 with an estimated footfall of 10-12
million per annum and will re-establish Newport’s position within the
top 100 UK retail destinations (Source: Javelin/DTZ). This will double
retail sales in the city adding £100 million per annum.
First Minister of Wales Carwyn Jones said:
“This fantastic development will breathe new life into the
“As well as providing a great array of shops,
restaurants and a new cinema, it will also deliver much needed employment,
supporting businesses and the community.
“I’m pleased we’ve been able to
financially assist Newport City Council in bringing forward this flagship
Friars Walk development delivered in partnership with Queensberry Real
Estate. The council’s vision in making Friars Walk a reality should
be highly commended.
“I’d like to congratulate everyone
who’s worked so hard to make Friars Walk a reality. It’s an
ambitious and prestigious development worthy of a great city like
Delivered by Queensberry Real Estate, Friars Walk was
the result of a private-public partnership with a loan provided by Newport
City Council. Bob Bright, Leader of Newport City Council added:
“This is a momentous day for the city, its residents and
businesses. The day we see our vision becoming a reality.
“Friars Walk is an exemplar for partnership
working between the public and private sector and it has proved a catalyst
for investment in the city centre. We are seeing a renaissance with new and
returning businesses opening both in Friars Walk and the wider city centre.
These will contribute millions of pounds to the local economy bringing
far-reaching benefits for all those who live in, work in and visit Newport
for many years to come.”
Friars Walk has opened to schedule on 12 November with
25 of the stores trading as well as six of the family-friendly restaurants
and the eight screen Cineworld multiplex cinema. Welcoming shoppers from 12
November is the 90,000 sq ft full offer Debenhams Department Store as well
as the new H&M and Next stores.
Fashion fans will also be able to enjoy the brand new
Topshop, New Look and River Island stores among other high street
favourites including Mothercare, Schuh, The Body Shop and Pandora.
Newport’s dining offer will also see a significant uplift with the
opening of Las Iguanas, Nandos, TGI Fridays, GBK and Le Bistrot Pierre on
12 November. For those on the move, Greggs, Coffee #1 and Krispy Kreme will
offer more food and drink options.