Cinema chain Cineworld is today named as the operator of the eight-screen multiplex which will be part of Newport’s Friars Walk retail and leisure scheme.
Developer, , has planning in place for the £100m retail and leisure scheme on John Frost Square. In April, Debenhams announced it will provide the flagship store taking 93,000 sq ft.
Cineworld will anchor the leisure element of the development and will offer a state-of-the-art, all-digital cinema totaling 26,000 sq ft.
Construction will begin next year on the 330,000 sq ft scheme which will provide up to 1,100 new jobs and also includes 35 retail units, 10 restaurants, 360 space parking and a new bus station. The new shopping centre is expected to open in 2015.
Steve Wiener, chief executive of Cineworld, said: “Cineworld is extremely enthusiastic about this development of Newport city centre and to have secured an agreement to open our multiplex cinema on such a great site.
“We believe our investment will play a major part in enhancing Newport as a leisure destination and that it will be well received by the public.”
Stuart Harris, head of leasing at Queensberry, said: “We welcome the vote of confidence from Cineworld, Debenhams and Newport City Council for our proposals, and we are very excited about the benefits this will bring to the shopping centre and Newport city centre.
“We have agreed terms with our main fashion anchors and hope to announce them soon.”
Queensberry is understood to be in advanced talks with leading national operators for the new restaurants.
Gareth Beer, chief executive at Newport Unlimited, said: “The cinema deal is a major step forward for Friars Walk and an important part of the jigsaw for the regeneration of Newport’s city centre. It is hoped that this announcement will encourage further leisure and retail operators to invest in Friars Walk and be part of the city’s ongoing transformation.”
Leader of Newport City Council, Cllr Bob Bright, said: “We welcome the news that the UK’s number one multiplex cinema chain by admission is joining one of the UK’s top department stores in the new Friars Walk development.
“This is a further signal to the market that Friars Walk is a leading investment opportunity and brings the scheme one step closer to fruition.”
Founded in 1995, Cineworld operates 811 screens in 78 cinemas across UK and Ireland.
Agent DTZ acted for Queensberry & Wareing & Partners represented Cineworld.
The regeneration of Newport’s retail core is just one of a number of projects that is being facilitated by Newport City Council, in conjunction with its partners Newport Unlimited and the Welsh Government, to transform Newport into a thriving and successful city.
By 2020, it is hoped that the regeneration programme will have created 12,000 new jobs, generated £800m of private investment, completed 3,000 new homes and created one million square ft of new office floor space.