Bristol developer swoops for shopping centre
A Bristol property firm has bought a South Wales shopping centre out of receivership.
The Kingsway Shopping Centre in Newport has been sold to Bristol developer Boyce Group for £615,000 despite an asking price of £1m.
The centre, which has 36 retail units, now belongs to the Boyce Group, which was founded by Niall Leighton-Boyce in 2012.
The new owners say they have a bold vision for the future of the site which it hopes will lead Kingsway to “evolve away from the high street trend”.
The Boyce Group plans to convert Sovereign House into residential accommodation and transform Emlyn House into a new public square.
Mr Leighton-Boyce wants to see the introduction of a soft play centre and development of a food court, opening up a range of hospitality and leisure firms.
A spokesperson said: “Niall has great plans to reimagine Kingsway, enticing shoppers into Newport city centre and reaffirming the space as a hub for residents and visitors alike.
“Starting with a focus on finding an occupier for the former Wilkos store to create local jobs and amenities, the Boyce Group plans to convert Sovereign House into residential accommodation and redevelop Emlyn House into Emlyn Square.
“Boyce Group hopes to fill vacant units at the centre with leisure and hospitality uses in the near future. Niall would like to see a soft play centre and develop a food court. There will also be the introduction of low-cost serviced offices and co-working spaces to Kingsway Centre in 2024.
“The purchase of Kingsway Centre by Boyce Group will allow it to evolve away from the high street trend. Niall has already adjusted the status quo by not renewing the contracts held with the managing agent of many decades.
“Daily operations at Kingsway Centre will be overseen by Kingsway Centre Management Ltd, a new company dedicated to improving the customer experience and reducing costs to tenants.
“Beacon Lily now takes over as the agent handling all new and existing tenant enquiries, keen to hear from all parties interested in having premises within Kingsway Centre.
“In line with Niall’s dedication to the interests of the local community, there are incredible introductory offers and opportunities available to independent and start-up businesses.”
