Friars Walk, Newport

Last updated
Friars Walk
John Frost Square 2015.jpg
John Frost Square, Friars Walk
Friars Walk, Newport
Location Newport, South Wales
Coordinates 51°35′09″N2°59′33″W / 51.5859°N 2.9926°W / 51.5859; -2.9926
Opening date12 November 2015
DeveloperQueensberry Real Estate
OwnerCyrus Capital Management [1]
Total retail floor area 390,000 sq ft (36,000 m2)
No. of floors3
Website friarswalknewport.co.uk

Friars Walk is a partially under-cover shopping centre and leisure complex in Newport city centre, South Wales. It has several levels and includes a range of high street shops, eateries, a cinema, a bowling alley and a soft play area.

Contents

Development

The site was originally planned by Modus Corovest, however these were scrapped in 2009 due to the global financial crisis [2] .

Plans were revived in a £100 million public-private scheme by Queensberry Real Estate and Newport City Council in 2012. Plans included a six-screen cinema, ten pin bowling alley, eight restaurants and a 350 space carpark. [3] A new bus station was also included, with finance coming from a £90 million loan from Newport City Council. [4]

The new design was by Leslie Jones Architecture. [5] Construction began in April 2014. The scheme opened on 12 November 2015, raising Newport from 200th to 77th in the UK's retail rankings and heralded as a "lifeline for Newport". [5] The total cost came to £117 million. [5]

Location

The complex is linked by the redeveloped John Frost Square to the Kingsway Shopping Centre, Newport Museum, Art Gallery and Central Library and Newport bus station. The complex is a short walk from the high street shops of Commercial Street and High Street. Newport railway station is also a short walk away.

The Friars Walk car park holds 350 cars and over 1,000 spaces are available in the adjacent Kingsway multi-storey car park, both accessed from the A4042 Kingsway. There are cycle racks located in Usk Plaza.

Ownership

The ownership of the site has been the source of discussion due to the decision of the freeholder, Newport City Council, to not disclose the beneficial owner of the headlease, [6] and therefore not reveal the recipient of the substantial subsidy payments for empty units, which amounted to £1 million over two years as of 2022. [7]

The site was developed by Queensberry Real Estate after a loan agreement in a public-private partnership with Newport City Council. [6] However this left the council open to shortfalls for empty units, prompting it to agree a subsidy arrangement with Queensberry which ensures that the Council pays compensation (up to a cap) for empty units in the development. [6]

In June 2017, the site's developer Queensberry Real Estate sold the centre to Talisker Corporation, [8] the Canadian owner of Main Square in Toronto, and Canyons Resort in Park City, Utah.

It emerged that the leasehold interest in the site (Friars Walk LH Limited) had changed hands in early 2022. Wales Online repeatedly sought to obtain these details through a Freedom of Information request but the Council initially refused stating that "the disclosure of information relating to [...] financial or commercial performance could likely affect future business dealings along with the reputation of the parties concerned". [9]

In July 2023 it was reported that the rights to the subsidy payment had been sold separately to the ownership of the lease on the site, to a Jersey based business named Old Star Finance. [9]

In January 2024 it was confirmed that Cyrus Capital Partners Europe LLP were the new beneficial owners of the headlease. [1] The business is a subsidiary of the Anglo-American hedge fund of the same name, which specialises in "complex, structurally distressed investments". [10] The European business is run by Lucien Farrell, who has made "investments in over 100 companies, the majority of which would be considered stressed or distressed companies" including the now defunct British airline Flybe. [11]

Stores

As of March 2023, retailers included: [12]

Chartist Steps

The steps connecting Usk Plaza to John Frost Square are inscribed with the six points of the People's Charter to commemorate the Chartist movement and the Newport Rising of 1839 led by John Frost.

Related Research Articles

<span class="mw-page-title-main">Westgate Hotel</span> Historic hotel in Newport, Wales

The Westgate Hotel, Commercial Street, Newport, Wales is a hotel building dating from the 19th century. On 4 November 1839 the hotel saw the major scenes of the Newport Rising, when 3,000 Chartists, some of them armed, led by John Frost marched on Newport to attempt to secure the release of five of their number who were being held under arrest at the hotel. In the fighting between about 60 soldiers of the 45th Regiment of Foot and police on one side, and a larger number of Chartists on the other, 10-22 Chartists were killed and more than 50 wounded. The hotel is a Grade II listed building.

<span class="mw-page-title-main">John Frost (Chartist)</span> British Chartist

John Frost was a prominent leader of the British Chartist movement in the Newport Rising.

<span class="mw-page-title-main">Caerleon</span> Town and community in Newport, Wales

Caerleon is a town and community in Newport, Wales. Situated on the River Usk, it lies 5 miles (8 km) northeast of Newport city centre, and 5.5 miles (9 km) southeast of Cwmbran. Caerleon is of archaeological importance, being the site of a notable Roman legionary fortress, Isca Augusta, and an Iron Age hillfort. Close to the remains of Isca Augusta are the National Roman Legion Museum and the Roman Baths Museum. The town also has strong historical and literary associations: Geoffrey of Monmouth elevated the significance of Caerleon as a major centre of British history in his Historia Regum Britanniae, and Alfred Lord Tennyson wrote Idylls of the King (1859–1885) while staying in Caerleon.

<span class="mw-page-title-main">Cwmbran</span> Human settlement in Wales

Cwmbran is a town in the county borough of Torfaen in South Wales.

<span class="mw-page-title-main">Newport, Wales</span> City and County Borough in Wales

Newport is a city and county borough in Wales, situated on the River Usk close to its confluence with the Severn Estuary, 12 mi (19 km) northeast of Cardiff. With a population of 145,700 at the 2011 census, Newport is the third-largest principal authority with city status in Wales, and seventh most populous overall. Newport became a unitary authority in 1996 and forms part of the Cardiff-Newport metropolitan area, also known as the Cardiff Capital Region. Newport was the site of the last large-scale armed insurrection in Great Britain, the Newport Rising of 1839. The population grew considerably between the 2011 and the 2021 census, rising to 159,587, the largest growth of any unitary authority in Wales.

<span class="mw-page-title-main">Newport City Council</span> Local government of Newport, Wales

Newport City Council is the governing body for Newport, one of the Principal Areas of Wales. It consists of 51 councillors, who represent the city's 20 wards.

<span class="mw-page-title-main">Newport Rising</span> 1839 pro-democracy revolt by Chartists in Newport, Wales

The Newport Rising was the last large-scale armed rising in Wales, by Chartists whose demands included democracy and the right to vote with a secret ballot. On Monday 4 November 1839, approximately 4,000 Chartist sympathisers, under the leadership of John Frost, marched on the town of Newport, Monmouthshire. En route, some Newport chartists were arrested by police and held prisoner at the Westgate Hotel in central Newport. Chartists from industrial towns outside of Newport, including many coal-miners, some with home-made arms, were intent on liberating their fellow Chartists. Fighting began, and soldiers of the 45th Regiment of Foot, deployed in the protection of the police, were ordered to open fire. About 10-24 Chartists were confirmed killed, whilst reports of perhaps a further 50 injured. 4 soldiers were reported as injured, as well as the mayor of Newport who was within the hotel. Subsequently, the leaders of the rising were convicted of treason and were sentenced to be hanged, drawn and quartered. The sentence was later commuted to transportation.

<span class="mw-page-title-main">Lliswerry</span> Human settlement in Wales

Lliswerry, or Liswerry is an electoral district (ward) and community of the city of Newport, South Wales. The area is governed by Newport City Council. It is the largest community/ward in the city.

<span class="mw-page-title-main">Kingsway Shopping Centre</span> Shopping mall in Newport, Wales

The Kingsway Shopping Centre is an under-cover shopping centre in Newport city centre, Wales. The northern pedestrian entrance is on John Frost Square adjoining the Friars Walk shopping and leisure complex. The east pedestrian entrance is off Commercial Street. The west pedestrian entrance is on Emlyn Street. The centre is a short walk from the high street shops of Commercial Street and High Street. Newport railway station is also a short walk away.

<span class="mw-page-title-main">Riverfront Arts Centre</span> Arts centre in Newport, Wales

The Riverfront is the principal and newest theatre and arts centre in the City of Newport. It is located on the west bank of the River Usk on the Bristol Packet Wharf in the city centre. Designed by architectural firm Austin-Smith:Lord, the centre was opened on 23 October 2004.

<span class="mw-page-title-main">Newport Museum</span> Museum in Newport, Wales

Newport Museum and Art Gallery is a museum, library and art gallery in the city of Newport, South Wales. It is located in Newport city centre on John Frost Square and is adjoined to the Kingsway Shopping Centre.

<span class="mw-page-title-main">Newport city centre</span>

Newport city centre is traditionally regarded as the area of Newport, Wales bounded by the west bank of the River Usk, the George Street Bridge, the eastern flank of Stow Hill and the South Wales Main Line. Most of the city centre is contained within two conservation areas: the central area and the area around Lower Dock Street. Most of the city centre is located in the Stow Hill district.

<span class="mw-page-title-main">Newport bus station</span> Bus terminus and interchange in Newport, Wales

Newport Central bus station is a bus terminus and interchange located in the city centre, Newport, South Wales. It is the largest road transport hub for public services in the county. It is situated on the Newport Market site and the adjacent Friars Walk site.

<span class="mw-page-title-main">Newport Centre (Wales)</span>

Newport Centre was a leisure centre in Newport, South Wales. The Newport Centre was located in Newport city centre on the west bank of the River Usk adjacent to the Kingsway Shopping Centre. It held events such as concerts, international business conferences and art exhibitions.

<span class="mw-page-title-main">Newport Market</span> Victorian market in Newport, Wales

Newport Market is a traditional Victorian indoor market, in Newport, South Wales. It is an early example of a large-span cast iron-frame building featuring a glass-filled barrel roof.

<span class="mw-page-title-main">Shire Hall, Monmouth</span> Building in Monmouth, Wales

The Shire Hall in Agincourt Square, Monmouth, Wales, is a prominent Grade I listed building in the town centre. It was built in 1724, and was formerly the centre for the Assize Courts and Quarter Sessions for Monmouthshire. In 1839–40, the court was the location of the trial of the Chartist leader John Frost and others for high treason for their part in the Newport Rising. The building was also used as a market place. The Shire Hall is owned by Monmouthshire County Council and has audiovisual guides for visitors to Courtroom 1. It is currently used as a Tourist Information Centre and as the offices for Monmouth Town Council, and is open to the public in part.

<i>Chartist Mural</i> Mosaic in Newport, Wales

The Chartist Mural was a mosaic mural designed by Kenneth Budd and created in 1978 in a pedestrian underpass in Newport, Wales. It commemorated the Newport Rising of 1839, in which an estimated 22 demonstrators were killed by troops. It was 115 feet (35 m) long and 13 feet (4.0 m) high. The mural was demolished in 2013 amid considerable controversy and misinformation. The original decision to remove the artwork was taken in 2005 by the Labour Controlled Council to allow Modus development company to build the Friars Walk shopping centre. Modus were removed by the Conservative/Lib Dem coalition Council after taking control in 2008 and replaced with Queensbury Development Company Friars Walk.

<span class="mw-page-title-main">John Frost Square</span>

John Frost Square is a large public space in the centre of Newport, South Wales, named after the Chartist leader, John Frost. It was redeveloped as part of the Friars Walk shopping and leisure complex in 2014 and 2015.

<span class="mw-page-title-main">Chartist Tower</span> High-rise building in Newport, Wales

Chartist Tower is a 53.3 metre tall high rise building in west Newport, Wales. It was built in 1966, and is the tallest building in the city.

References

  1. 1 2 O'Neill, Ryan (2024-01-28). "The hedge fund behind a huge shopping centre that nobody wanted us to know about". Wales Online. Retrieved 2024-01-28.
  2. ↑ "City's £200m shops plan scrapped". BBC Wales News. 10 June 2009. Retrieved 1 December 2014.
  3. ↑ "Newport's Friars Walk shopping plan approved". BBC Wales News. 26 March 2012. Retrieved 1 December 2014.
  4. ↑ Ruth Mansfield (1 October 2014). "Newport Friars Walk is taking shape". South Wales Argus. Retrieved 1 December 2014.
  5. 1 2 3 Karen Price (12 November 2015). "Newport's Friars Walk offers a real lifeline for the city so let's hope locals support it". Wales Online. Retrieved 13 November 2015.
  6. 1 2 3 "Calls for clarity over who owns Friars Walk". South Wales Argus. 2023-08-01. Retrieved 2024-01-28.
  7. ↑ "City council's £3m bill to subsidise Friars Walk shopping centre". South Wales Argus. 2023-09-24. Retrieved 2024-01-28.
  8. ↑ "Friars Walk has been sold to a Canadian investment company". South Wales Argus. 9 June 2017.
  9. 1 2 O'Neill, Ryan (2023-12-18). "Nobody can work out who owns this £100m shopping centre". Wales Online. Retrieved 2024-01-28.
  10. ↑ "Cyrus Capital Management - brochure" (PDF). cyruscm.com. 2006.
  11. ↑ "The secretive hedge fund boss at the controls of Flybe". www.ft.com. Retrieved 2024-01-28.
  12. ↑ OpenStreetMap (29 January 2022). "Kingsway Centre" (Map). OpenStreetMap . Retrieved 29 January 2022.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.