What Can The Multi-million Revamp of Newport Market Bring to the City’s Economy
The wait is over – Newport’s indoor market is now open for business, thanks to a £12 million makeover funded by regeneration company, Newport Limited.
What’s New?
Cited as the largest indoor market redevelopment in Europe, the refurbishment was approved by the Welsh Government in a bid to breathe new life into the 19th-century building.
The long-anticipated reopening has restored the High Street entrance to the centre of the establishment. A variety of fresh traders have joined the ranks, compromising 35 independent market stalls that are available to enjoy every day of the week.
Confirmed traders include Cardiff bakery Friends in Knead, Penarth-based Rogue Welsh Cake Company, and Bristol-based Seven Lucky Gods.
Developers have also introduced a brand new food court and 360-degree coffee and cocktail bar, open Wednesday to Sunday, complete with terracing, seating, and a rooftop garden. A bonus bar has also been introduced at the front of the market.
Events and activities are available for families to get involved with, including a weekly comedy club, live music, games nights, and quizzes.
There are additional plans to make use of the vaults that lie beneath the market hall – originally used to house cattle and livestock, this section is set to be filled with dining rooms, salons, studio spaces, event rooms, a gym, and even an 80s-style arcade.
Co-working Community
From April, locals can also make use of the new co-working space occupied by South Wales firm Tramshed Tech.
Specialising in start-ups and scale-ups, the firm has been looking to extend its reach and support the growth of creative communities within Wales. The market’s revamp provided the perfect opportunity, offering an extra stimulus for the digital economy.
The office space is available to rent by day, transformed into an events area by night.
In With the Old
Despite some backlash when the project was first announced, shoppers need not worry – the transformation has ensured integral parts of the traditional market have remained intact, including the upper floor’s iconic stained-glass window designed by artist Catrin Jones.
In preserving the original fittings, developers have kept the essence of the market alive alongside reviving the space with new and improved attractions.
“Regulations change,” commented Simon Baston, Managing Director of developers Loft Co. “It’s getting harder every day, but something like this has got to be kept.”
The market still holds sections that date back to 1864, which were originally constructed to cope with the influx of trade at the time.
The Pandemic Effect
Plans for the market have been underway since 2012, but the pandemic backdrop and its devastating effects on the trading sector provided new motivation for the revamp.
With industries facing mass lockdowns and restrictions since March 2020, it is hoped that the new work will attract shoppers and provide a much-needed boost to an area of Wales steeped in history.
Locals are excited about the prospects the revamp will bring, with one regional member for Gwent claiming the city has “suffered significant challenges due to lack of investment over the years”.
Newport has been coined a “sleeping giant” in economic terms – Baston believes the project will be the awakening the city deserves, providing more than 200 new jobs and opportunities for 40 new businesses.
“30 years ago if you went to Newport, it was a thriving place to live. If you look at why it’s not like that anymore, it’s because people are not offered what they want,” Baston said. “They’ve got out of town shopping, which doesn’t give you an atmosphere. They’ve not been given what other cities have been given.”
Government officials believe the boost will create a ripple effect in the surrounding areas, combating the “doughnut” shape of low-income areas that often surround town centres.
A Digital Revolution
Plans to economically uplift the city have also extended to a digital revolution, which will go hand-in-hand with the market’s new groove.
Welsh politician Laura Anne Jones has called for “some radical and some very basic” schemes to support Newport and the surrounding areas. These include helping small businesses in expanding their online presence, slashing business rates, and creating “shared retail spaces” like the new and improved market to create a host of attractions alongside shopping.
“We can’t think of our high streets as purely shops anymore,” Jones commented. “We need to be creative and inventive with the space that we have to offer, creating a shopping experience that is different to anything that you can get online.”
The renewed hubbub of the bustling market is set to serve as a catalyst for future generations of traders and shoppers, preserving the magic of the historical site and enriching the business culture of the historical city.
You can take a trip to Newport market any day of the week, from 8am-5pm Mondays and Tuesdays, 8am-8pm Wednesday through Saturday, and 10am-5pm Sunday.