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LONDON-Rhys Newport, a partnership between Dawnay Day and investment bank Lehman Bros, has made a planning application for a £100 million ($157 million) retail-led mixed-use regeneration project in Newport, South Wales.

The radical transformation will double the size of the 30-year old Kingsway Shopping Centre to 450,000 sf. The centerpiece of the development will be new 100,000-sf department store and in addition, there will be a 75,000-sf food store. The proposed scheme will include an 84 bedroom hotel, 74 apartments and a 1,370 space car park. In addition, 15,000 sf will be devoted to leisure.

Charles Miller, Partner of King Sturge Retail who acted on behalf of Newport City Council said the council welcomed the application. “This new scheme has been long awaited for Newport. It will undoubtedly attract major retailers to the scheme, and also will benefit the town as a whole,” he said.

Subject to planning permission, work is scheduled to start on site in the autumn of next year, with completion planned for September 2005.

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