THERE have been calls for clarity over the ownership of the shopping centre at the heart of Newport city centre.

Paul Davies MS, Welsh Conservative Shadow Economy Minister, said there was a “troubling lack of transparency” over Friars Walk shopping centre after no commercial entity or public authority seemed willing to step forward and claim ownership of the £117m site.

He spoke out after reports over the weekend questioned who really owned the site. Mr Davies called for both the city council and the Welsh Government Economy Minister to provide answers. 

“Both the Labour-run Newport City Council and Vaughan Gething need to be forthcoming with this information, particularly given the fact that the shopping centre has been in receipt of huge sums of taxpayers’ money,” he said.

“I am surprised that Labour’s Economy Minister hasn’t been able to answer simple questions on this issue.”

Friars Walk opened on 12 November 2015 as the result of a private-public partnership which saw Newport City Council provide a loan to developers and the original owners Queensberry Real Estate.

Following a subsidy agreement made in 2017, Newport City Council has said it paid £500,000 to the property owners in each year from 2020 to 2022 - totallng a sum of £1.5 million of public money.

But according to a report by Wales Online, in 2022 the money did not go to Talisker Corporation, who were thought to be the current proprietors of Friars Walk, but a company called Old Star Finance.

The council, which lauded the opening of Friars Walk in November 2015, told Wales Online that Canadian company Talisker was “no longer involved” – despite no public disclosure that a changeover had occurred.

A spokesperson for Newport City Council told the website a firm called Old Star Finance bought the rights to the subsidy from Talisker and was therefore entitled to the subsidy but would be required to pay a rebate if Friars Walk performs to a certain level, as per the original agreement.

When the Argus asked Newport City Council for clarification on the ownership situation at Friars Walk, the council replied: “You will have to contact Friars Walk for this information as the centre is privately owned.”

Friars Walk was also approached but has not yet provided an answer.

Economy Minister Vaughan Gething’s office was also approached but said: “Newport City Council led the project to develop Friars Walk, not the Welsh Government. Newport City Council would need to respond to your request.”

The centre opened in 2015 with the involvement of both the city council and the Welsh Government. 

At the time, then-First Minister Carwyn Jones said: “I’m pleased we’ve been able to financially assist Newport City Council in bringing forward this flagship Friars Walk development delivered in Queensberry Real Estate.”

Leader of Newport City Council at the time, Councillor Bob Bright, heralded it as a “momentous day for the city” and the day that the council saw “its vision” becoming a reality.

The shopping centre, along with others across the UK, has lost a number of high-profile chains in recent years, including Debenhams, Top Shop and The Body Shop, attracted 350,000 visitors on its opening weekend.

Newport’s flagship it may be, but its flag seems to have been lost to the wind.