BUSINESS owners across Newport expressed their reaction to the council’s backing of the £90m proposal.

Robin Hall, managing director of Kymin, Newport, believes that it is an opportunity too good to be missed.

“I am in favour of the loan, as I know that the council has agreed that it will attract other shop retailers.

“I think it had to be done, as it will bring investment to the city.”

David Jones of Hutchings & Thomas Chartered Surveyors, Newport, said the investment loan was an unusual one, but a move that needed to be made to change the perceptions of the city.

“I think it is a positive step. The city centre is at rock bottom at the moment and I think that the council has realised that and is doing everything it can to rectify the situation.”

Mr Jones said he believed Newport’s negative perception was due to the state of the city centre and by changing that, the attitude to the city would also change.

Robert Twigg, property partner at Everett Tomlin Lloyd & Pratt Solicitors, Newport, said: “I can understand there are some concerns in some quarters about the council borrowing so extensively to lend to such a scheme, but I think that if the Friars Walk development does go ahead, it should provide a much-needed shot in the arm for Newport city centre.

“It would bring the likes of Debenhams to the city.

“If the development is not going to go ahead without this intervention by the city council, then something must be done.”

“The Friars walk development will inject a bit more life into the city centre and bring more confidence in to the city as a whole.”

Lewis Lewis, of Lewis & Lewis Chartered Quantity Surveyors, Newport, is also in favour of the loan.

“It is definitely a positive thing for the city centre to see this backing of the development and this investment, which will act as a catalyst for other businesses to open in the city.

“The loan will bring future growth to the city and job opportunities, as well as shops and other outlets for the public to benefit from.

“We are looking to recruit in the New Year and that is a direct result of this loan backing.”

But mixed feelings have also been expressed about the impact the development will have on small businesses.

David Pell, owner of Bacaro and The Ridgeway restaurants in Newport, said: “I think it is a positive stepping stone that is going to do good to move the city forward.

“I think one of the key things is it that it has turned around people’s perceptions and feelings from negativity to feelings of positivity about the city.

“But I think there is a balance to be had.

“The development will be drawing additional people in to the centre and off of the back of it, more independents may look to open in the centre, but it may also have a detrimental effect to those independent businesses on the outskirts.”