NEWPORT'S new retail and leisure development Friars Walk will officially open its doors at 10am on November 12, 2015.

Paul Sargent, chief executive and co-founder of Queensberry Real Estate, which is the developer behind the 390,000sq ft scheme, said: “We are delighted to announce that Friars Walk will open as scheduled in November.

“This is an amazing achievement as we set the date more than a year ago before even going on site.

“Friars Walk will transform Newport, giving people a reason to return to the city centre. We have a fantastic line up of retailers and restaurants and we estimate that we will receive around 10 million visitors in the first year alone. There is a real buzz and sense of excitement from within the community and we will create an environment that people will want to return to time and time again.”

Mr Sargent said: “It has taken just four years to develop the concept, secure funding, find the right tenant mix and build the scheme. It is an amazing success story for both Newport City Council and QRE.”

He said: “Friars Walk will be the first retail scheme to be delivered by Queensberry Real Estate since it was formed just five years ago. We are also proud to announce we will be fully involved in the ongoing operation and management of the centre.”

The scheme is currently 65 per cent let with tenants already confirmed including Debenhams, Next, H&M, Cineworld, Nandos and Frankie and Benny's. Friars Walk is set to be one of only three shopping centres forecasted to open in the UK in 2015. In addition to this it is one of the country’s most significant regeneration investments to be built and delivered post-recession.

Councillor Bob Bright, leader of Newport City Council, said: “To have the opening date for Friars Walk confirmed is another important step in the much anticipated retail and leisure development for the city.

“We know that having a transformed city centre offering retail and leisure has been something that our residents have wanted to see for many years.

“The council has been instrumental in this development coming to fruition and took the innovative decision to fund the development at the end of 2013. This meant the development could become a reality sooner rather than later.

“This regeneration scheme has transformed the city centre and with the opening in our sight our residents can look forward to a development that will give them big brand shops, restaurants, entertainment and new employment opportunities in the run up to the festive period.

“We hope that this Christmas will be particularly special and one to remember with the opening of the new retail and leisure centre at Friars Walk in the thriving heart of the city.”

QRE confirmed the opening date following a confident discussion with the main contractor Bowmer and Kirkland. QRE took over the site from the council in February 2014 and is now entering the advanced stage of construction.

Work is progressing across the entire site, the buildings for key anchor tenants Debenhams and Cineworld are being constructed at pace and in recent months steelwork on the remaining blocks adjacent to Debenhams has started.