ONE of Newport's notable eyesores will disappear in the next few months.

Empty and derelict buildings on the waterfront between Town Bridge and George Street Bridge will be demolished.

Several hundred apartments are due to be built on the cleared site opposite the Riverfront Theatre and Arts Centre.

A joint venture between the Welsh Development Agency and Newport city council, the redevelopment scheme will include a riverfront walkway, a footbridge linking the site to the city centre and extensive flood prevention work.

Most of the buildings being pulled down have already been acquired by the WDA and the rest are due to be compulsory purchased shortly. The agency hoped to award the demolition contract in May.

Graham Moore, chief executive of Newport Unlimited which is promoting the scheme, said: "The Rodney Parade redevelopment will see the construction of high quality accommodation which, together with a continuous waterfront promenade, will provide a strong urban facade and transform the eastern edge of the River Usk."

He added the work signalled the start of proposals in the city's master plan while complementing the renovation of the former arts college. WDA executive director Nic Neal said the project paved the way for one of the keystones in the regeneration of the city centre - the creation of a riverfront residential community.

Councillor Ken Critchley, cabinet member for development and employment, added: "The completion of the Riverfront Theatre and Arts Centre has marked the start of magnificent changes to this area of the city, and this new development will not only improve the riverbank and provide quality homes but will also improve the links across the river that runs through the heart of Newport."

Redevelopment of the site is likely to take two years but demolition of the vacant buildings is required immediately for safety and security reasons.

The Rodney Parade scheme is just one of 60 projects in 15 priority areas that will be rolled out over the next five years as part of Newport's wider regeneration programme which is expected to attract more than £500 million in private investment.