News that Queensberry Real Estate is preparing to sell Friars Walk is not surprising, according to one city firm of chartered surveyors.

Haydn Thomas, of Hutchings and Thomas Chartered Surveyors, which is based at Gold Tops, Newport, said: "The potential marketing of Friars Walk will probably generate a lot of interest with what is happening in Newport generally. Newport is seen as a city with investment potential.

"And, with the occupiers which are signed up already to Friars Walk, the general activity in the city and the economic upturn, it does seem a good opportunity for potential buyers," he said.

"To a degree the news that Queensberry are preparing to go to market is not unexpected as developers do look to create value and cristalise the same by selling the investment on. It will be interesting to see how the Newport City Council funding is dealt with when the development is sold."

Mr Thomas said: "This won't affect the tenants as they have leases in place which protect their position."

Friars Walk is set to open to the public on November 12, 2015. It is currently about 85 per cent pre-let to retailers including Debenhams, Next, Top Shop, Schuh and H&M. There is also going to be an eight-screen Cineworld cinema and a number of restaurants including Nandos, TFI Fridays, Le Pierre Bistrot and Cosmo.

There will also be 350 parking spaces and a new bus station interchange.

Queensberry have also confirmed that M&S has now signed to take space for a food hall as part of the scheme.

Mr Thomas said the suggestion that there is interest in the site from investors was definitely a vote of confidence in the city.

"If it sells well, this will be the litmus test of how Friars Walk and Newport as a whole is perceived. It's good that there is an investment in Newport city centre to sell and Queensberry should be commended on their commitment to see the project to a point where the investment is able to be brought to the market."

It has been reported on industry websites that the development would be for sale for £120m but Paul Sargent, of QRE, would not confirm the possible asking price for the site.

He said that it had always been the intention of Queensberry to sell Friars Walk, in line with industry practice, but they had brought forward preparations to go to market after a number of unsolicited enquiries from potential investors.

The London-based firm has appointed BNP Paribas Real Estate to sell the development, which is set to open to the public on November 12 this year, and is currently preparing to go to market towards the end of October.

Newport City Council lent Queensberry £90m as a funding package to ensure the scheme got off the ground. Mr Sargent said the council had been informed of the decision to go to market.

It is expected that interested parties will be able to make bids before the end of the year, with a sale possible at the beginning of 2016.

Once the sale has gone through, the loan to the council would be paid back.