Queensberry Real Estate’s Friars Walk retail and leisure destination is one of the most highly anticipated commercial developments currently ongoing in South Wales, with the 390,000 sq ft facility due to bring a number of new retailers to Newport. With work remaining on schedule, the firm has announced that the official opening will take place at 10am on the 12th of November this year.
At this point in time, construction work is progressing strongly with anchor units for both Debenhams and Cineworld in the advanced stages of construction. Furthermore, steelwork for the remaining units adjacent to the Debenhams store has already begun, with the initially ambitious 22 month delivery programme seemingly entirely realistic thanks to the commitment of primary contractor Bowmer and Kirkland.
Chief executive and co-founder of Queensberry Real Estate, Paul Sargent, thanked both Bowmer and Kirkland and Newport City Council for their involvement in the project upon confirming the opening date of the centre.
He said; “This is an amazing achievement as we set the date over a year ago before even going on site.
“Friars Walk will transform Newport, giving people a reason to return to the city centre – we have a fantastic line up of retailers and restaurants and we estimate that we will receive around 10 million visitors in the first year alone.
“It has taken just 4 years to develop the concept, secure funding, find the right tenant mix and build the scheme, it is an amazing success story for both the council and QRE.”
Friars Walk will become QRE’s first delivered retail scheme, with the firm having been established only five years ago. It will also be one of only three shopping centres to open by the end of 2015 in the UK, and marks one of the country’s most significant regeneration investments to be delivered since the recession officially ended a few years ago.
Impressively, despite being more than six months away from completion, the scheme has already been 65 per cent let with a number of upmarket and high street brands jostling for places in the modern and well located development. This means that, as the scheme will soon be made watertight with the completion of flooring and roof formation only a short time away, tenants will soon be able to commence fit-out work on key units and begin recruitment in preparation for the grand opening.
Newport City Council leader Bob Bright welcomed the news, saying; “To have the opening date for Friars Walk confirmed is another important step in the much anticipated retail and leisure development for the city.
“Newport City Council has been instrumental in this development coming to fruition and took the innovative decision to fund the development at the end of 2013, this meant the development could become a reality sooner rather than later.
“This regeneration scheme has transformed the city centre and with the opening in sight our residents can look forward to a development that will give them big brand shops, restaurants, entertainment and new employment opportunities in the run up to the festive period.”
