The regeneration of Newport Market will be the largest market refurb in the UK and is expected to become one of the most visited historic buildings in Newport, attracting over 1.5 million visitors per year.
The traditional Victorian indoor market is grade II listed and has a large span cast iron frame featuring a glass filled barrel roof. Delivered by Penarth-based developers Loft-Co, the market’s regeneration will bring a 21st Century scheme to Newport and will create a collaborative space for businesses.
On offer will be the best in food and drink, retail and lifestyle businesses and over 70 uniquely designed workspaces and offices. The offices will also offer an outside gym, organic garden, indoor and outdoor collaborative spaces and as well as access to all of the amenities in the market. In addition, the mixed-use development will provide a large unique space for events, including weddings and conferences, with a capacity of over 400 people.
Simon Baston, Director of LoftCo said:
“Loft Co is once again, delighted to be working on one of the most historic and complex mixed-use schemes in South Wales in conjunction with Welsh Government and Newport Council. The refurbishment of the market its self, is one of the largest to be undertaken in the UK and Loft Co are delighted to be able to work in conjunction with many local businesses and community leaders at all stages.
“The market will comprise of a traditional market around the outside (as has always been the case) which will offer accommodation on attractive rental terms with a guarantee of critical mass around them. The food court in the centre will act as the pivotal position of the market, in terms of drawing people into this area. The lifestyle offices will reflect how we live today in terms of live/work balances and will offer many different disciplines from aesthetics to hairdressing, tattooist etc.
“There will be in excess of seventy-five offices ranging from two persons to twenty persons which will have the ability to use various collaborative areas, outdoor gym, organic garden, plus all the facilities in the market.
“Loft Co would like to thank all its partners to date and in particular, Newport City Council with regards to all their efforts in assisting the purchase and having us drive the way forward.”
Working closely with Simon on the project, Donald Gray, Partner at Cardiff law firm Darwin Gray said:
“Newport Market is one of the many exciting projects that I have had the privilege of working with Simon and LoftCo on over the past few years. With developments such as Goodsheds, the Pumphouse and Swansea Albert Hall, it is fantastic to see the transformation of not only historic buildings but the transformation of communities that they bring with them.”
The development of Newport Market is expected to be completed in the next 12 months.