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NatWest Provides Funding for Acquisition of Newport’s Friars Walk

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NatWest Corporate and Structured Real Estate Finance teams have provided real estate developer and investor, Talisker Corporation, with acquisition funding for its purchase of Newport’s Friars Walk shopping centre.

Friars Walk, originally developed by Queensbury Real Estate with funding from Newport City Council, boasts a central location in the heart of Newport, with over 390,000 sq ft. of retail and leisure space. The centre, which is home to an eight-screen cinema and a twelve-lane bowling alley counts top brand names such as Topshop, Debenhams and H&M amongst its retailers.

Talisker’s investment will bring benefits to the city of Newport for years to come, and the company plans to work closely with tenants, the community and the council to ensure that Friars Walk continues to develop.

Talisker’s Director of Acquisitions & Finance, David Howard, said:

“We are proud to be working with both NatWest and Newport City Council to provide much needed development to the Newport area. Friars Walk is a modern space with a lot to offer to Newport residents. Our investment will enhance and bring value to the centre, as well as provide quality customer experiences and bring lasting benefits to local people.

“NatWest has been instrumental in progressing our acquisition of the centre, and we look forward to continuing to work in partnership with the Bank’s team.”

Friars Walk attracts over 10 million visitors a year and has become a community hub in Newport. In 2015, the centre was awarded REVO’s coveted Gold Award for Best New Centre.

Jonathan Ellis, NatWest Real Estate Finance Director, said:

“We have worked with Talisker to provide funding for the acquisition of Friars Walk, and we are proud to have worked with an investor with such an impressive portfolio of developments. Our funding reflects the consistent and sustainable approach NatWest has to providing real estate finance, and we are confident that their investment will benefit Newport for years to come.”