Principality invests in redesign of its branch network

12 December 2017

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Principality Building Society has relocated its Newport branch to the Kingsway Shopping Centre, introducing a fresh look and feel designed to better meet the needs of current and new Members. The new branch is situated in the centre of the thriving shopping area in Newport and has features including a self-serve refreshment area, free Wi-Fi and a space where children can learn basic financial skills via interactive games. Colleagues will greet Members and customers with iPads, while there are also private meeting rooms.

A programme to refurbish ten more branches across Wales with elements of the new design has already begun, reflecting Principality’s commitment to the communities they serve.

Steve Hughes, CEO of Principality Building Society, said, “It’s great to be at the heart of the Newport community in this new development, and we’ve focused on creating a ‘home from home’ style branch.  We listened to feedback form our Members before we went ahead with the design. We are tailoring the way that our branches are set up for business to reflect the needs of the town in which they operate in whilst continuing to offer the same outstanding customer experience.

“How people interact with financial services is changing all the time. We accept consumers are leaning towards digital trends and we are at the start of a three year plan to adapt to that but the role we play in our communities makes us stand out from the competition.  Financial education is a massive area where we want to help children and young people within our communities, so I’m delighted we are able to offer this in our Newport branch in an innovative and fun way.

“We are in the process of investing heavily in bringing our business in line with the changing demands of our Members and customers to strengthen the service we offer. From how our branches are designed, to the range of products available to Members, the personal service and expertise from our branch advisors will be balanced with modern technology. Our colleagues are very excited by their new surroundings and I hope our Members enjoy this fantastic new space too.”

Dan Mead, Asset Management Director at Queensberry, who own the Kingsway Shopping Centre in partnership with Bywater Properties, said, “We’re delighted to welcome the Principality Building Society to its new home at The Kingsway Shopping Centre, it’s great to have such an established brand in our centre and I’m sure both new and existing customers will love the Principality’s new location overlooking the new John Frost Square. The Principality opening completes the work that Queensberry has done in refurbishing this area of The Kingsway Centre.”

Huw Thomas, Director at Cooke & Arkwright, added, “The way people interact with their banks and building societies has changed and, in sourcing a suitable location for the new branch in Newport, we were mindful of Principality’s aims to offer modern banking services that are fit for the future.

“With that in mind, we sourced a prime location in the city centre in the Kingsway Shopping Centre.

“Principality is a proud Welsh brand and its continued presence in town and city centres across the country is helping position it prominently within its heartlands.”

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