FRIAR'S WALK: Timeline (From South Wales Argus)

FRIAR'S WALK: Timeline

1:10pm Wednesday 10th June 2009 in News By Jane Helmich

THE story of the Friar’s Walk scheme since 2004.

• October 2004: we reveal that five companies were battling to build Newport's new shopping centre.
• April 2005: Modus Corovest (Newport) Ltd chosen as the scheme developers
• May 2006: Debenham sign up as flagship store and Modus also sign official contract with council
• February 2007: planning permission granted by the city council
• September 2007: changes made to scheme to accommodate a second anchor store, later confirmed this was to be Marks and Spencer
• January 2008: it was reported that Modus had axed contractors McAlpine from the scheme as a cost-cutting measure
• vApril 2008: Modus gave a reassurance about its commitment to scheme after speculation that a bank had withdrawn its backing for scheme.
• July 2008: amended plans for a hotel, to meet the needs of a potential operator, received the green light
• May 2008: property buyers take a major stake in the residential part of Friars Walk, allaying financial fears at that time.
• September 2008: it is reported that work could begin in the summer of 2009
• November 2008: there is doubt over residential phase because of slump in housing market
• March 2009: council says it is continuing to work with developers to find a way forward
• May 2009: Cllr Matthew Evans warns it was unlikely work would begin on Friars Walk this year and said the time may come when the council has to take a decision about whether it would go ahead.
• June 2009: Modus Ventures goes into administration.