PLANS to redevelop Newport’s historic market will be submitted by the end of next month, says the man behind the project.

The aim of the £12 million scheme is to create a “market for the 21st century”, while bringing a tech hub, flats, hotel accommodation, a virtual gaming space, gym and cinema to the building.

It had been hoped to have a planning application submitted to Newport City Council by now - but Simon Baston, managing director of Loft Co, who is behind the scheme, said the volume of work in carrying out surveys of the building has resulted in a slight delay.

The redevelopment of the Grade Two-listed building is thought to be the largest mixed-use redevelopment of a market in the UK.

“With a building of that scale and complexity, it is a big task, but the commitment is full, there is no issue at all,” said Mr Baston.

He still hopes that work will begin on the project in the summer, subject to planning permission being granted.

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The redevelopment focuses on the market itself as “the most important part” part of the scheme, with stalls and a food court in the centre.

A 24/7 tech hub will be located on the first floor, offering a collaborative working space for businesses.

A leisure wing is planned at the back of the building, with a gym, small children’s play area and a free cinema showing films three days a week.

Working with two housing associations, 48 apartments are planned, while on the top of the building, a 16-apartment hotel will be located.

A virtual gaming space and around 25 small offices also form part of the scheme.

The front of the building would be mostly kept the same with a pop-up bar opening on Friday and Saturday.

Some traders have voiced fears they will have to relocate to allow for the scheme.

While all current traders will be offered a place in the redeveloped market, Mr Baston has said there will be “different terms and conditions.”