Successful sale of Friars Walk complete
Monday 12th June 2017
Friars Walk is now under new ownership following the successful completion of the sale by Queensberry to Canadian investment company Talisker Corporation.
Newport City Council Leader Councillor Debbie Wilcox has welcomed the deal which will ensure the council can repay the loan it took out to finance the scheme in full.
Councillor Wilcox said:
"Firstly, I would like to thank all those involved in what is necessarily a complex process for successfully completing the sale and welcome Talisker to the city. I believe their confidence and commitment to Friars Walk bodes well for the future of both the centre and Newport.The council will have a continuing financial interest in the scheme through a small share in the rental income that will bring benefits to the city for many years to come."
David Howard, of Talisker, said;
"We are very excited about the newest addition to our portfolio of UK properties. Friars Walk offers a modern, well thought out scheme with a secure income stream with a lot of potential for future growth.We look forward to working closely with the community, our tenants and the city council to ensure that Friars Walk continues to mature into the true heart of Newport."
Paul Sargent, CEO of Queensberry, said:
"It was always our intention to develop and sell on Friars Walk.I believe Friars Walk is at a good point as we move on. It has been successfully trading since November 2015. Last year it was awarded REVO’s coveted Gold Award for Best New Centre of 2015. Footfall is strong, averaging over 10 million visitors a year and tenants are reported as trading well."