Funding shopping centre was 'huge call'
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Funding shopping centre was huge call, says council leader

Newport council leader Debbie Wilcox has called its decision in 2013 to fund the Friars Walk shopping centre development "hugely risk-taking".

She was speaking after the centre was sold to a Canadian investment firm in July, wiping out the council's £84m debt.

The deal means the authority paying a £500,000 annual subsidy for up to 15 years, if rental incomes do not rise.

Ms Wilcox said front-line services would not be affected as funds had been set aside to cover any costs.

  • 23 Aug 2017
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