NEWPORT'S Friars Walk has been sold to a Canadian investment company.

The sale of the shopping centre, which opened in November 2015, to the Talisker Corporation was confirmed today, Friday.

Although the sale price is unknown, Newport City Council leader Cllr Debbie Wilcox said this means the authority would be able to repay the £90 million loan it took out to finance the scheme in full.

"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," she said.

"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.”

Chief executive of developers Queensberry Paul Sargent 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."