RECENT figures show that the city of Newport has one the highest empty shops rates in the UK.

The figure of 29.65 of vacant shops places the city in the top 10 regions in the country for empty shops,

Despite these worrying statistics experts believe there is a reason for the slump and that the future fortune’s for the city now hang on the successful start of the £88m Friars Walk Scheme.

The project, which is proposed to start in the new few months, will deliver some 390,000 sq ft of retail and leisure space for Newport opening up the river bank area in the process.

The city’s indoor market has been revamped and a new bus station is being created

But how has the city of Newport got into the parlous state in the first place and what are its prospects?

Haydn Thomas, of Newport city centre based Hutchings & Thomas Chartered Surveyors believes a great deal of the cause is down to the continuing uncertainty over the major private sector retail scheme for the city.

Haydn said: “The problem for the city of Newport, with its high per centage of empty shops, has been compounded by a number of key factors which have all combined to create a perfect storm in terms of shop vacancy in the centre.

“The first of these problems is the growth of out of town retail centres which now encircle the city centre. Newport Retail Park, at Spytty, with its massive new Tesco and the M&S, which recently re located there from the city centre, is proving to be a major draw. Harlech and also Maesglas Retail Parks all serve to attract custom away from the centre.

“The second problem for the Newport city centre is the continued uncertainty over the Queensbury Development Friars Walk retail scheme which promises to bring a new retail experience to Newport City centre and revitalise the Usk riverfront. The uncertainty over this serves to halt any prospective retailers from making a decision over locating to the city centre until they know exactly what is going to happen with this very important scheme and, indeed, if it will happen at all.

“There is also an issue over the lack of parking in the city centre which causes Newport to lose out to near neighbour Cwmbran with its offer of free parking. The city also falls into the category of being the poor cousin and in the shadow of supremely successful retail centres as Cardiff and Bristol, on either side, which are in the top echelon of retail locations.

“However it’s not all bad. The imminent opening of the new Admiral Insurance office block opposite the railway station bringing hundreds of jobs right into the centre of Newport offers a strong ray of hope and optimism.

“This optimism is particularly relevant in the case for the service and leisure sector, pubs, bars, cafes and restaurants that will be looking to benefit from the hundreds of new people coming into Newport to take up the jobs being created at Admiral. This may in turn spur main stream retailers, who as I have said seem to be holding back from making a decision on locating to the centre awaiting the start of the Friar’s Walk scheme, to reconsider Newport city as location in which they can prosper and do profitable business.”