Plans to redevelop Newport’s historic market will be submitted by the end of next month, the man behind the project has said.
Simon Baston, managing director of Loft Co, is behind plans for a £12 million redevelopment of the grade-two listed building.
The plans aim to create a “market for the 21st century”, while bringing a tech hub, flats, hotel accommodation, a virtual gaming space, gym and cinema to the building.
It is thought to be the largest mixed-use redevelopment of a market in the UK.
A planning application was hoped to be submitted by this month, but Mr Baston says it will now be lodged by the end of February.
Mr Baston said the volume of work in carrying out surveys of the building has resulted in a slight delay, but reaffirmed his commitment to the scheme.
“With a building of that scale and complexity it is a big task,” he said.
“But the commitment is full, there is no issue at all.”
Mr Baston says he still hopes for work to begin on the project in the summer, subject to planning permission being granted.
The planned redevelopment focuses on the market itself as “the most important part” part of the scheme, with stalls and a food court in the centre.
A 24/7 tech hub will be located on the first floor, offering a collaborative working space for businesses.
A leisure wing is planned at the back of the building, with a gym, small children’s play area and a free cinema showing films three days a week.
Working with two housing associations, 48 apartments are planned, while on the top of the building, a 16-apartment hotel will be located.
A virtual gaming space and around 25 small offices also form part of the scheme.
The front of the building would be mostly kept the same with a pop-up bar opening on Friday and Saturday.
Some traders have voiced fears they will have to relocate to allow for the scheme.
While all current traders will be offered a place in the redeveloped market, Mr Baston has said there will be “different terms and conditions.”
