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Wragge & Co’s shopping centres team has advised new developer Queensberry Real Estate on its successful bid to build a £110m, 390,000 sq ft shopping centre at John Frost Square in Newport’s city centre.
Queensberry Real Estate, a London-based company that was established by the former UK management team of Multi Development, was chosen as the preferred bidder by Newport Council in May. Geldards, fielding a team led by property partner Susanne Bradley, advised the council.
Queensberry aims to start work on the site in 2013 and will submit a planning application later this year. It is looking to secure an anchor tenant for the development as well as further leasing contracts.
Head of international real estate Sally Pinkerton led the Wragges team, supported by partners Peter Thorne, Toby Askin and Stephen Sellers.
Wragges’ shopping centres team includes investment, development, tax, finance, construction, lettings, asset management and retail lawyers. As well as handling developments, the team also manages nine shopping centres, including the Royal Exchange in London.