CONCERN ABOUT FUTURE OF COMMERCIAL STREET

Concern has been expressed about the future of Commercial Street this week. The City's main shopping street, home to most of the main high street names is expected to be hit by defections to Friar's Walk, the new shopping mall. According to details released by Modus , the developer behind the new centre, Friar's Walk will incorporate new stores from Marks and Spencer, River Island, Next, JJB and New Look, all occupiers of stores in Commercial Street. The City Council's Development and Employment Committee considered the Council's Economic Development Strategy this week and despite the major successes being enjoyed by the city identified the relocation of businesses and the negative impact upon Commercial Street as an area of concern. Peter James, managing director of family firm Wildings Ltd, which own the department store on Commercial Street has previously warned that the area may be affected if major stores are tempted away to Friar's Walk and could become a street of mainly banks and other financial institutions. Newport Unlimited argue that the schemes being introduced will substantially increase the number of visitors and shoppers to the city increasing footfall in Commercial Street. It remains to be seen how many retailers will move out of Commercial Street and whether stores vacated will be attractive to other retailers.

While Modus is making great strides in attracting retailers to Friar's Walk the same cannot be said for UBS the owners of the Kingsway Centre. So far a massive new Wilkinson store and relocated units for Jessops and Claire's Accessories are the only lettings alongside existing retailers such as Top Shop and Woolworths. The remodelling of the Kingsway Centre will not be complete for a further six months and will include a substantially extended Peacocks clothing store. "It's a re-speccing of units, with a new roof and walls being knocked out. It's a fairly fundamental change – not just a lick of paint," Newport Unlimited chief executive John Burrows recently told Retail Week magazine.