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Press Release

Start of works on Kingsway Centre

Start of works on Kingsway Centre

Newport’s fortunes are being transformed as work gets underway on the first phase of the city’s £300 million redevelopment of its retail centre.

UBS Global Asset Management’s UBS Triton Property Fund (Triton) has started the major £20 million refurbishment and extension of the Kingsway shopping centre in Newport and construction of the new 1,050 space multi-storey car park, signalling the start of Newport’s multi-million pound retail facelift.

The Kingsway shopping centre, built in the late 1960s, will be completely refurbished throughout, along with new entrances, new façade and a new glazed central square.

The new centre will provide 19,602 m2 (211,000 ft2) of retail space, including a new 5,017 m2 (54,000 ft2) anchor store along with three large retail units fronting John Frost Square and two mall level cafés. The centre will remain open during the refurbishment programme, which is due to be complete by Christmas 2007.

The new car park will have access from Kingsway and will lead directly into the shopping centre. Completion of the car park is due in summer 2008.

Councillor Bob Bright, leader of Newport city council, said: “This is an exciting time for Newport. The new retail centre, of which the new Kingsway shopping centre plays a crucial part, will put Newport on the map again in terms of retail, offering consumers more brands and more choice and less reason to look elsewhere.”

The UBS scheme at Kingsway will be complemented by two further retail schemes, both led by Modus Corovest.

The four hectare (10 acre) site of John Frost Square and the Bus Station is undergoing redevelopment into a £200 million mixed use site, including a new 31,400 m2 (338,000 ft2) shopping centre called Friar’s Walk.

This will include a 9,755 m2 (105,000 ft2) Debenhams department store to be developed adjacent to the Kingsway Centre with an additional 300 car parking spaces on the roof.

It will also feature 1,100 m2 (11,800 ft2) of new restaurants and bars, 100 bed hotel, 1,200 m2 (13,000 ft2) health club, 3,530 m2 (38,000 ft2) multi-screen cinema, 200 city centre residential apartments, including 17 storey residential tower and a new bus station. Construction of Friar’s Walk is due to start in 2007 and will be complete by 2009.

Meanwhile, the existing Cambrian Centre will be transformed in a £90 million mixed use scheme, called City Spires. It will comprise 7,432 m2 (80,000 ft2) of retail, 15,510 m2 (167,000 ft2) of residential in a 31-storey (check with Modus) tower, 8,782 m2 (94,000 ft2) of offices, car parking facilities for up to 905 cars and a 129-bed hotel. The centre is due for completion by March 2010.

The £300 million regeneration of Newport’s retail heart forms part of urban regeneration company Newport Unlimited’s plans to transform the city into a thriving destination in which to live, work, rest and play.

John Burrows, chief executive of Newport Unlimited, said: “The complementary retail schemes at the Kingsway Centre, Friar’s Walk and City Spires will come together to boost Newport’s retail offer significantly.

“All three schemes form an essential part of the city’s Central Area Master Plan which will also see a new left bank waterfront development, a commercial office district, residential units, enhanced public spaces as well as a vastly improved transport system.

“Work is already well underway on these other developments to ensure that the whole city looks its best in time for the influx of visitors expected for the 2010 Ryder Cup Golf Tournament.”

Visit our redevelopment web pages for more information on the Newport schemes

Ends

Notes to Editor

Kingsway Shopping Centre – £20 million: Triton purchased the Kingsway Shopping Centre in February 2004 and appointed Chester Properties as its asset manager with responsibility for the refurbishment. HBG has been appointed the main contractor for the project. The architect is the Colman Group, which has been involved with the Capitol Centre in Cardiff and the Quadrant Centre in Swansea. Letting agents are Capital Retail in London and Savills in Bristol.

Friar’s Walk - £200 million: Architects for the Friar’s Walk Shopping Centre are Leslie Jones Architects, who have been involved in numerous award winning retail schemes throughout the UK. Landscape architects are Gillespie’s. Project management is by E.C. Harris and letting agents are Lunson Mitchenall.

City Spires - £90 million: Architects for the scheme are Holder Mathias and the contractors are Modus. The urban designers are Gillespies, the project manager is Alan Williams and the agents are Richard Ryan at Fletcher Morgan and Nick Carter at Calan.

Urban Regeneration Company Newport Unlimited is a partnership of the Welsh Assembly Government and Newport City Council, working with the private sector, to promote investment and regeneration in the city of Newport, South Wales, UK.

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