| wales
IN MY VIEW T
he second half of 2017 has been very positive within the region and we are experiencing increasing enquires for both freehold and leasehold commercial properties, specifically in Newport. There seems to be increased confidence in Newport and the surrounding areas, resulting in
Steve Roberts
companies willing to make long-term commitments. Many of these enquiries are from Bristol and Cardiff with many looking to live and/or work
in Newport. This has been primarily due to the government’s decision to abolish the Severn Bridge tolls next year in order “to send a powerful message to businesses, commuters and tourists alike that the UK Government is committed to strengthening the Welsh economy”. This has added to the already good value for money of both residential and commercial properties in Newport when compared to Bristol. The industrial and logistics sector is a strong growth sector as illustrated by the
by Steve Roberts, Nuttall Parker
letting to Amazon at Celtic Business Park, Newport. This can only be improved with the proposed M4 relief road which should
The industrial and logistics sector is a strong growth sector as illustrated by the letting to Amazon at Celtic Business Park, Newport. This can only be improved with the proposed M4 relief road which should only strengthen this sector demand.
operators opening in the city centre with the likes of The Pod Bar and Restaurant on Rodney Road; Sixteen Steakhouse on High Street and The Rogue Fox opening on Clytha Park Road, which appears to be turning into a local food and drink area. This is further demonstrated with the Canadian coffee shop Tim Horton’s showing confidence in the City by looking to open a unit on Commercial Street, one of only a handful across the entire UK. Also, there are many developers now looking to convert upper floors above retail units for both social and private housing, but we seem to still have the same battle with gaining planning permission despite the obvious need for these properties to be utilised.
This improvement in the market comes with a challenge, with the fact that as we are struggling to replace our stock levels as there has been limited development over the last 10 years. We are finding that we cannot fulfil the demand from enquires and would ideally need to have more supply. We are hoping that this continues into
only strengthen this sector demand. The pub/leisure market is another growth sector with several independent
2018! Merry Christmas. Nadolig Llawen. Visit
www.nuttallparker.com
NEWPORT’S RENAISSANCE CONTINUES R
egeneration in Newport is continuing at pace as the city attracts significant interest and investment. Newport City Council is a forward- thinking and proactive local authority that works closely with the private and voluntary sector to find innovative ways of delivering projects. Friars Walk, the much-wanted retail and leisure scheme which opened in 2015, was able to go ahead thanks to a loan from the council which was repaid earlier this year when Canadian firm Talisker bought the centre.
In September, it was announced that
IQE was to establish a state-of-the-art wafer manufacturing plant in Newport. The company is the first major step in the creation of up to 2,000 highly skilled jobs, which form part of the compound semiconductor foundry supported by the Cardiff City Region City Deal. Newport’s ambition is to become a national digital hub, working with the University of South Wales to develop its Cyber Academy and supporting the expansion of Cardiff University’s prestigious National Software Academy (NSA) into a new home in the city centre. Close to the city centre, Garrison Barclay Estates has recently revealed ambitious plans for a gateway building. The former Royal Mail sorting office in Mill Street is one of the first buildings seen by people arriving in Newport on the main railway line from London. Garrison Barclay intends to develop the site into a mixed use scheme, incorporating high quality office space.
Meanwhile, work is progressing well on the
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International Convention Centre Wales (ICCW), on the site of the five-star Celtic Manor Resort. The striking slate and glass building, which is due to open in the summer of 2019, will cater for more than 5,000 delegates.
Over the last 10 years, the importance and value of the visitor economy has also grown. In 2016, 4.78 million people came to the city, an increase of more than 57 per cent compared to the previous year. Major housing developments across Newport have contributed to record dwelling completion figures in recent years. More than 950 new homes were completed in Newport in 2016/17 up on the previous year’s record-breaking figure.
New communities include Glan Llyn, on the site of a former steelworks, a 600-acre mixed use site which, when it is completed in the next 20 years, will provide about 4,000 new homes and up to 2,000 jobs at the site’s Celtic Business Park within 80 acres of open parkland. To find out how your business can be part of Newport’s success contact Newport City Council’s Regeneration and Economic Development Team. Telephone 01633 656656 or visit
www.newport.gov.uk/cityontherise
COMMERCIAL PROPERTY MONTHLY 2017
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