NEWPORT was dealt a huge blow last November when one of its biggest employers Admiral announced it would be leaving the city.
Less than ten years since the Welsh financial services provider came to Newport, the company said it was to begin a phased closure of its Newport office, with hundreds of staff being gradually moved to its Cardiff office by 2023.
News of the closure was met with widespread disappointment from business across the city, in what has been a considerably difficult time for Newport’s economy.
In January, the Argus reported that Newport has more empty shops than anywhere else in the UK. It’s a hugely sobering statistic that has left many wondering if the city will ever be able to return to its former glory.
And, while plenty of stores have left Newport in recent years, there’s also promising developments that have never quite managed to get off the ground – like the Station Quarter, of which the Admiral building is a part.
Sitting next to the soon-to-be-vacant office building, Station Quarter bills itself as an ‘eat, drink, shop’ development space – but at the moment it’s anything but.
These shopfronts at the foot of the Admiral building have stood empty ever since they were built almost 10 years ago.
And – on the face of things – it doesn’t look like there’s any potential businesses eyeing up the units.
Instead, its promotional billboards lie damaged, weeds have now taken a hold of the area and so has the graffiti – it’s another reminder of what could have been, for Newport.
This included 14,000 sq ft of retail, restaurant, and café space with up to 53,000 sq ft of office space spread above over up to five floors of the ‘plaza’.
However, there’s been no signs of developers on the site since Newport City Council gave the plans the go-ahead back in 2016.
And, despite developers issuing an update on the Station Quarter status last year, saying they intended to pre-lease parts of the building before they started construction – it is unclear how significant a role Admiral’s departure will play on the process.
What next for Station Quarter?
It’s clear that the task of getting businesses to snap up the empty units in Station Quarter has become a lot harder now that we know Admiral is set to leave the city.
However, the Argus reported last week that there has been a significant level of interest in the Admiral office.
It means developers might not be facing as bleak a future for the project as once thought.
But what is perhaps the most puzzling thing here is why the units were unable to attract businesses in the first place.
Especially given how important an employer Admiral has been for Newport – with plenty of people in and out of the building over the years, it seems like a prime spot.
Jack Abou-Jaoude, Senior Development Manager at Scarborough Group, said: “The impact of the global pandemic coupled with the fallout from Brexit stagnated growth and productivity across the entire UK economy, not just South Wales, and it will take time for confidence to be restored.
"However, we have witnessed a significant uptick in the number of enquiries from potential occupiers in respect of the vacant units at Station Quarter in recent months, and we hope to be in a position to announce new lettings in the not-too-distant future.
“While Admiral’s phased departure from Newport is a significant blow for the city centre, this is less a reflection of the location and more a structural change in businesses’ workplace practices.
"Station Quarter is a strategic gateway site which creates an important link between the train station and the city centre and we remain committed to delivering our ambition for the next phase of development, which will include a 53,000 sq ft office building. We are now taking the time to consider how we position the space so that it is better-suited to more agile working practices.”
The Argus has repeatedly asked Newport City Council for a comment on this situation, but did not receive a response.
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