Newport steps up with the opening of Friars Walk
Queensberry Real Estate¬ís new Friars Walk shopping centre has opened in Newport this week.
The 390,000 square foot retail and leisure scheme is one of only a few new shopping centres to launch in the UK this year.
Opening at 85% let, the £117 million scheme is predicted to double retail sales in Newport by adding £120 million per annum. In addition, the city’s catchment is forecast to increase from 211,000 to 367,000 with an estimated footfall of 10-12 million per year.
Paul Sargent, chief executive and co-founder of Queensberry Real Estate, said: “Friars Walk has turned around the retail and leisure offer in Newport, not only by attracting new brands to the scheme itself but by enticing occupiers back into the existing retail core. The unlocking of Friars Walk has generated £90 million of direct investment into the local economy, while supporting the job market through the preferred use of local supply chains - ensuring the city’s future as a major employment hub.”
Designed by Leslie Jones Architecture, Friars Walk has opened to schedule with 25 of the stores, six of the restaurants and the eight screen Cineworld multiplex cinema all trading. This includes a 90,000 square foot full offer Debenhams department store and fellow retail anchors, H&M and Next. Other stores opening their doors include Topshop, New Look, River Island and Mothercare.
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