Friars Walk countdown

Countdown to 12 November opening for Newport's new retail & leisure development

8 October 2015

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10,000 sq ft of new lettings at Friars Walk have brought Queensberry’s retail and leisure development in Newport to 85% let, with less than five weeks to go before it opens on 12 November. Retailers Jack and Jones, Tiger and The Body Shop, have signed up joining Next, H&M, Top Shop, New Look and River Island, plus a 95,000 sq ft Debenhams store.

The restaurant section is now fully let with Wagamama taking space alongside Prezzo and GBK. Huw Thomas, Director of Retail and joint retail agent on the scheme with Lunson Mitchenall and Nick Young & Co, said “Friars Walk is going to make a big difference to Newport's fortunes and there is huge anticipation building ahead of the launch date.”

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group