News Archive
Regeneration continues in Newport despite difficult economic conditions
25/01/09
Construction has now commenced for the new University of Wales Newport campus and the near completion of the spectacular new office building ‘The Orb’ in Newport City Centre show that despite the current economic climate regeneration is continuing in Wales’ third largest city.
Riverside regeneration in Newport
Construction has now commenced for the new University of Wales Newport campus and the near completion of the spectacular new office building ‘The Orb’ in Newport City Centre show that despite the current economic climate regeneration is continuing in Wales’ third largest city.
John Burrows Chief Executive of Newport Unlimited Urban Regeneration Company outlines key initiatives which highlight the commitment of public and private partners to deliver the regeneration vision for the City of Newport.
"The key to public sector leadership in difficult times is to keep leading and where possible, keep spending" commented John. Newport Unlimited is leading and coordinating a development programme for the Welsh Assembly Government and Newport City Council of over 100 projects across the city over the next 5 to 10 years.
The University Campus is a cornerstone of the City of Newport regeneration master plan which includes over £2bn investment to 2020, over 100 projects, 2m ft² of office space, 1m ft² retail space, 1m ft² industrial space, 10,000 new homes planned and space for over 15,000 new jobs.
"At Newport Unlimited Urban Regeneration Company, we are proud to be driving one of the biggest regeneration programmes in the UK. The new University campus serving the region and beyond is a cornerstone of our regeneration programme and with construction now starting on site in this difficult economic climate we are showing the World that Newport is still pursuing vigorously and successfully its regeneration programme."
Construction workers and piling rigs arrived onsite in December to begin the building phase of the new £35m City Centre Campus for the University of Wales, Newport.
University of Wales, Newport onsite and CGI of the completed campus
The £35m campus, which will be the first phase of an intended £50m development for the University with partnership funding from Newport City Council, the Welsh Assembly Government and Newport Unlimited, will be home to two academic schools with international reputations; the Newport Business School and the digital media, film and design elements of Newport School of Art, Media and Design.
So far, dramatic changes have been made to the Centre of the City with new boulevards, new and iconic footbridge and walkways alongside the River Usk, new offices and car parks, and new City centre homes.
Another exciting addition to Newport City Centre is The Orb, a stunning new high specification £8.4m office development. It is attracting interest from the market despite the current economic climate. At 48,000 ft² it provides a significant boost for Newport Unlimited’s strategy to establish the City as an attractive retail and business location.
It is the second premises to be delivered through the Welsh Investment Strategic Partnership (WISP), a unique partnership between the Welsh Assembly Government and Babcock and Brown Ltd, international specialised fund and asset managers to provide Grade A office accommodation in major regional centres in Wales for companies to expand or relocate.
The new Orb building at the George Street Office Quarter, Newport
Leighton Andrews, Deputy Minister for Regeneration said "WISP is a pioneering partnership with a major private sector investor with potential to invest over £100m in creating top quality office buildings across Wales. It is one of a number of successful approaches to funding used by the Assembly Government to support the regeneration of our cities, towns and communities."
With the capacity to accommodate up to 450 jobs, The Orb was designed to provide flexible accommodation for one large occupier or up to 8 smaller occupiers.
"The Orb is a stunning office building and key to the regeneration of the Old Town Dock area of Newport City Centre. With The Orb, Newport has an office development that any city would be proud of. It is particularly exciting to have a building of such high quality in the City Centre that will help create a real buzz and lively atmosphere in this area" commented John.
Numerous residential schemes are also in development and adjacent to The Orb on Old Town Dock, following a year of negotiations with Fairlake, a new sustainable and affordable housing scheme is due to start on site in March. These houses will be Code 5 matching the highest standard for sustainable housing in the UK.
On an upbeat note John Burrows added "The current economic climate and property recession has slowed progress on a number of schemes but it has not stopped progress in Newport. Most projects are on track, and the perseverance of private sector partners and public sector partners in developing the projects means that progress will continue."
With the eyes of the world focused on the City of Newport during the 2010 Ryder Cup Golf Tournament the progress towards a vision of a regenerated City of Newport by 2020 will be well under way.
