Newport City Council continues to hold talks with the company running the town’s Indoor Market following a delay in the complete repayment of a £6 million borrowing arrangement.
Documents recently made public reveal correspondence between the council chief and the opposition spokesperson, indicating the outstanding sum remains unpaid beyond the February 2026 deadline.
Council leader Dimitri Batrouni stated that both sides were actively working together and highlighted how well-used the venue remains within the central shopping area.
Representatives from market management company Loft Co were approached for a response.
Conservative opposition leader Matthew Evans questioned whether the authority had secured the complete return of the advanced funds and what steps had been undertaken to guarantee full recovery.
Cllr Batrouni explained that the market development continues to be a popular visitor destination, offering retail, leisure and hospitality services, as well as serviced office accommodation for small and medium enterprises and start-up businesses. He noted that the loan has not yet been repaid, but the developer remains fully engaged with the council and discussions are ongoing regarding the matter. He added that he cannot comment on these discussions in further detail at the moment due to commercial sensitivities, but a further update will be provided as soon as possible.
Following that exchange, posted on the council’s online platform this week, Cllr Evans expressed worry about the authority’s preparedness for the repayment deadline, noting that public funds were involved.
The local authority does not operate the market itself but signed a 250-year rental agreement with a commercial operator.
Officials have previously confirmed receiving interest payments against the loan.
Newport Indoor Market welcomed visitors again in 2022 after major renovation work, providing an assortment of facilities including dining options, a licensed bar, areas for functions, retail units and workspace.
Loft Co did not provide a statement when approached about the loan repayment situation.