Letting agents appointed for Friars Walk

New retail agents for Newport's 390,000 sq ft new shopping and leisure development

26 September 2014

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Queensberry Real Estate announces the appointment of Cooke & Arkwright as the new retail letting agent for Friars Walk, the 390,000 sq ft shopping and leisure development in Newport city centre, due to open in Autumn 2015. Cooke & Arkwright is the third letting agent working on the scheme and joins national agents Lunson Mitchenall and Strutt & Parker. Cooke & Arkwright is one of the largest independent practices in Wales and provides a full range of multi-disciplinary services. Based in Cardiff and with strong links to Newport, the firm is already extremely active in Newport city centre and a wider catchment area.

Commenting on the appointment, Stuart Harris, Commercial Director and Co Founder of Queensberry Real Estate said, “Cooke & Arkwright has an excellent reputation. They know Newport really well and have a strong presence in the area. Being based in South Wales, they have local knowledge and this will be a big advantage to us; they are in daily contact with a number of key retailers that we are aiming to attract into the Friars Walk scheme and can be at our marketing suite presenting Friars Walk within a matter of minutes. It is really important for us to use local companies where possible and bringing Cooke & Arkwright into the scheme adds another dimension to potential retailers.”

Huw Thomas, Director at Cooke & Arkwright said, “We are delighted to join Queensberry Real Estate and the letting team in dealing with the marketing of Friars Walk. Given that the construction work is currently on track for opening, it's a very exciting time for the development with numerous discussions taking place with a variety of interested retailers. Friars Walk will contribute significantly to the ongoing regeneration and revitalisation of Newport city centre and will create a shopping and leisure environment which the local Newport and surrounding population will be proud of.”

Construction of Friars Walk is on track with the opening date of the Shopping Centre having been announced for 12 November 2015.  As at April 2015, the scheme is over 65% let by floor area with various Heads of Terms in place with a number of retailers.

Queensberry Real Estate was chosen by Newport City Council to rejuvenate the city centre with a modern shopping centre that integrates into Newport's existing retail fabric. Friars Walk will bring more than 390,000 sq ft of modern, well-configured retail and leisure space. It will include 35 retail units, 11 restaurants, 350 parking spaces and a major bus station and interchange.

On completion the scheme will provide an estimated 1,200 jobs worth around £15m in salaries a year to the local economy. This is in addition to the jobs created during the construction phase and potential for local companies to be involved in the supply chain of the centre.

Barclays have a long standing relationship with Cooke & Arkwright who continue to provide us with first class service and advice.

Steve Thomas, Director Real Estate Team, Barclays, South West and Wales