What does the opening of the £100m Friars Walk scheme mean to existing businesses in Newport? We put Newportonian and financial services business managing director Robin Hall on the spot to give his personal and professional opinion on this momentous event

How do you view the opening of the Friars Walk?

I can’t wait for Friars Walk to open. There is a buzz in the city centre even before the development has opened. New retailers such as Debenhams, Next, M&S Foodhall and Jack & Jones are a welcome addition to the city centre. The 11 restaurants will also be a huge boost and it will be great to finally have the choice of places to eat with family and friends, as well as being able to take clients into the city centre after so many years.

What difference do you believe it will make to the city?

It will make a huge difference to Newport. There have been a few false dawns over the years with a new development on the site first being mooted back in 2005, but Newport is finally on the up. The two major events that have happened at the Celtic Manor Resort over the past few years, firstly the Ryder Cup in 2010 and the Nato summit in 2014 have put the city on the map. People know about Newport now and are already visiting the city on the back of these events. Finally they will be able to make use of the shopping and leisure experience in Newport instead of having to travel to Cardiff all of the time.

What benefits will it deliver?

The increase in footfall that it will inevitably bring will be good for retailers and other businesses old and new. I am sure that those brands which have not signed up as yet will be watching the development with eager anticipation and hopefully in the new year we will see further announcements not only in Friars Walk but also the Kingsway Centre and hopefully High Street and Commercial Street as well.

Do you have any concerns?

On the whole the scheme is fantastic news, but I also have a couple of concerns. Firstly the parking, I’m not sure that 350 spaces are going to be adequate. The last thing we want is for potential visitors to be put off coming to the centre because of the lack of parking. If this is found to be the case, a short-term measure could be the introduction of Park and Rides sites off the M4 as we did with the Ryder Cup. My other concern is that some retailers are moving from High Street and Commercial Street into Friars Walk. We must encourage other national and perhaps more importantly independent traders to take those vacant premises to further enhance Newport’s retail experience.

What will be the best thing?

It will encourage people into the city centre at night and on Sundays. With the array of restaurants open until 11pm during the week and the cinema until after midnight, the night-time economy will be given a huge boost. It will also make the city centre safer and more user friendly. This will make the new dwellings like Kings Court Apartments more attractive and sought after. Having a cinema in the city centre again will be great and I personally can’t wait to see the new Star Wars film there in December.

How should Newport capitalise on this massive investment in the city?

Newport’s City Council, its residents and all businesses should be shouting about this from the rooftops. Newport is on the up, we have seen massive investment over the past few years, with the new railway station, university campus, Admiral building and redevelopment of the old Passport Office into residential and retail to name but a few. Newport will now become a destination for shoppers once again taking us from number 198 to being in the top 100 shopping destinations in the UK. This will benefit not only the new businesses but local pubs, restaurants and the existing retailers. We can’t and shouldn’t try and compete with the likes of Cardiff and Bristol, but Friars Walk will encourage many Newport residents and those from further afield to try Newport once again.

What would you hope would follow in terms of further investment?

There are a number of other schemes in the process of being completed such as Kings Court Apartments, Premier Inn and Olympia House. Full occupation of the former Westgate Hotel should be a number one priority. It is sad to see such a magnificent building that is steeped in history being mainly unused. After being awarded nearly £15m from the Welsh Governments Vibrant and Viable Places Programme, some key properties in the city centre have been transformed converting them into new homes and areas for business start-ups. Just outside the city the new Wales International Conference Centre at the Celtic Manor Resort will be another major boost for the economy with a capacity for 4,000 delegates it will bring many thousands of visitors to the area per year once completed in 2019. It will be the largest facility of its kind in Wales and the south west of England.

What is missing from the mix?

There are still a number of retailers which haven’t yet confirmed and it will be interesting to see who they are. However it would great to see the likes of Fat Face, White Stuff, Paperchase and perhaps a little Waitrose either in Friars Walk or in the main shopping streets.

How do you believe your business, Kymin Financial Services, will benefit from the Friars Walk scheme either directly or indirectly?

The increased footfall once the city centre opens may benefit us from an increase in walk-in clients. However, indirectly the increase in local employment that Friars Walk and spin off businesses will bring, may mean that more people will require advice on investments, pensions and mortgages over the coming years.

Is there a concern that other parts of the city centre could suffer after Friars Walk opens or will it serve to help them raise their game?

As I’ve said there are concerns for High Street and Commercial Street in the short-term as some retailers move to Friars Walk. However, I think the redevelopment as a whole will be a catalyst for further investment from other brands. I know of a number of local businesses including ourselves that have seen the development as an opportunity to refurbish their premises which will help them stand out from the crowd.