PLANS for a £10 million apartment complex at Newport's rundown former art college were welcomed by business and community leaders.

The Argus revealed yesterday that plans have been drawn up to develop the rat-infested, derelict building in Clarence Place.

The city landmark has stood empty since the college shut in 1994.

The distinctive copper-domed building has been hit by a succession of arson attacks and attracts homeless people sleeping rough.

But estate agent Darlows are now advertising for prospective buyers for apartments in a proposed conversion of the building.

The proposals are for 63 flats, which will have one, two and three bedrooms. The complex would also include four penthouse apartments, a gym and a swimming pool.

No prices have been set but would range from about £80,000 for a one-bed flat to £400,000 for a luxury penthouse.

Richard Perry, owner of the nearby Newport City Live Arena, said the apartments were a "brilliant idea".

He said: "I think, from our point of view, it's another development for this part of the city which can only be a good thing.

"This is the poor end of the city - it's the poor relation and often it's the first part people see when they're coming into the city.

"It makes sense for it to look as good as the other side of the river."

The college was bought by Thila Garaj in 2000, but is now in the hands of an unnamed London developer.

The planning application for permission to convert the Grade II-listed building will be considered by Newport council on June 18.

Pill councillor Ron Jones hopes the flats are given the go-ahead.

He said: "It's an eyesore at present but it is a difficult building because it's very old and would be difficult to convert into anything apart from flats."

He said the apartments would attract wealthy home owners to the area.

Newport East AM John Griffiths said: "I think if this plan goes ahead it will be successful because this is quite a prime location close to the city centre and the riverbank.

"It's a fantastic old building and it holds many strong memories for Newport people. It's a very iconic building for Newport.

"It is sad that it's been empty and neglected for so long and it's important it's put back into use quickly.

"It's good that it will be put to a constructive and useful purpose. I would have liked to see it used as a museum or an art gallery but we have to face the practicalities and if it's a choice between leaving it empty or luxury apartments then the latter is obviously preferable."