'This is more important now than ever': How the revamped Newport Market could look

Developers Loft Co are preparing to launch a pre-application consultation on the plans, first announced in 2018, for the project which promises a “market for the 21st century”, along with flats, office space and a hotel on the upper floors.

Simon Baston, managing director of the company, said he hopes this will start by the end of next week as the plans are finalised.

An image showing how the market redevelopment could look

An image showing how the market redevelopment could look

Mr Baston previously said a planning application would be submitted by the end of January – but he said the complexity of the project meant it took longer.

However he said the scheme is now taking shape – and he says the market redevelopment will be vital for the future of the city.

“We have not wavered in the slightest,” Mr Baston said.

“We know this market for Newport is more important now than ever.”

Terms with new tenants for the scheme which will be “exciting for Newport” are also being finalised.

An image showing how the market redevelopment could look

He said these will “reflect the independent nature that Newport is moving to.”

The project is expected to take around 18 months to complete.

A letter sent to traders from Loft Co at the end of April advised that the company was planning to begin a pre-application consultation.

The letter also said a meeting would need to be held when coronavirus restrictions are lifted, to outline the plans in more detail and terminate current lease arrangements so that new tenancies can be offered.

The developer said it had agreed to a request from Newport council that formal notices are not issued until a meeting is held outlining the redevelopment plans.

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

The scheme has been backed by the market traders association, but several traders have voiced fears they will have to relocate.

Marie Wheeler, who runs The Curtain Company, has raised concerns over a lack of information being provided to traders who she says are “being ignored.”

“We can’t survive when traders are abandoning ship because of the lack of believable information,” she said.

The redevelopment focuses on the market itself as “the most important part” part of the scheme, with a tech hub, a virtual gaming space, gym and cinema also planned.