A £1million revamp to Newport’s historic indoor market was officially completed today (14 November 2013) as part of the city’s ongoing £2billion regeneration programme.
The Grade II listed market, which dates back to 1864, has had a new central entrance installed and 11 new units including 260 m2 of accommodation for a flagship restaurant or bar operator. It is marked by a nine metre tall, bronze panelled monolith weighing almost 2,000 kilograms, designed to be a visual focal point that also reflects Newport’s industrial heritage.
The refurbishment of the market is part of a £5million upgrade to the Market Quarter carried out by Newport City Council and funded by Newport Unlimited, that includes improved public realm and new signage and seating. It is designed to bring vibrancy back into the heart of the city and attract a thriving independent retail sector that will complement the Friars Walk development, and widen the appeal of the city centre as a shopping destination.
Councillor Bob Bright, leader of Newport City Council, said: “This is the centrepiece of a transformed market quarter that includes improvements to the public realm around the market and is part of our major regeneration of the city centre.
“Work is progressing on Cambrian redevelopment, which will become home to Admiral next year, in the nearby Gateway area and all these projects will make a huge difference to this part of the city centre.”
In addition to the exterior work, a suite of offices above the market has been refurbished by Newport Unlimited and has been transformed by the University of South Wales into a business incubation unit to support graduate entrepreneurs. Known as the Business Loft, it contains office accommodation for 50 people, with five individual offices and two large open plan rooms for hot-desking, as well as a creativity space for businesses to share ideas, support each other and work collaboratively.
Bill Mayne, chairman of Newport Unlimited, said: “The market is an historic gem in the heart of Newport and our investment in its refurbishment is an investment in the future of the city centre.
“As well as a new entrance and new units to accommodate restaurants and cafes, the University of South Wales’ Business Loft is open and supporting graduates looking to start their own businesses in the creative sector.
“Together with the wider development of the Market Quarter and completion of the public realm, the market will act as a hub for independent businesses, complementing Friars Walk and offering shoppers in the city centre real choice.
“In the long term it will help to stimulate the local economy, attract new businesses to the area and prove to be a valuable assets to residents, visitors and businesses alike.”
The work to the market was carried out by Henstaff Construction, while the monolith was designed by Arup and manufactured by Woodhouse.
Work to build a new bus terminus to the rear of the market is also nearing completion and expected to attract between two and three million passengers a year, while Admiral’s new office is due for completion in 2014 and the business will relocate almost 500 employees into the city centre, significantly increasing the footfall of the area.
The refurbishment of the market forms part of the wider regeneration programme for Newport. Since it began in 2002 the regeneration strategy has attracted £230 million of private sector investment into the city, created more than 1,300 new jobs, 72,000 sq.m of commercial and retail floor-space has been delivered and planning applications have been submitted to construct more than 10,000 new homes. Almost nine hectares of derelict land has been reclaimed and more than 7,000 sq m of public open space has been created.
