L/R: Chris Yates of Cushman & Wakefield, Damian Stokes and Steve Myers of Rombourne, and Michael Bruce of DLP Surveyors.
Rombourne will develop the nine-acre former Avana Bakeries site at Rogerstone, Newport to provide up to 200,000 sq ft of manufacturing, warehouse and office accommodation.
The Cardiff-based commercial property company has already begun to refurbish and subdivide the existing accommodation to create a range of distribution and manufacturing units from 10,000 sq ft upwards, as well as smaller workshops and open storage compounds.
Located just two minutes from J28 M4 and easily accessed from the A467, the site will be known as the Avana Business Park.
Damian Stokes, chief executive of Rombourne, said: “We are extremely excited about this significant property acquisition. There is strong demand for industrial premises along the M4 corridor in South Wales with a shortage of good quality accommodation currently available.
“We will invest in creating modern, high-quality accommodation for a wide range of local and national businesses and bring much-needed jobs back to Newport.
“The scrapping of bridge tolls at the end of the year will mean businesses based in Newport can serve both sides of the Severn equally.
“The site’s position close to the M4 will attract strong interest in units as they become available.”
The former Avana Bakeries site is situated on the established Wern Industrial Estate in Rogerstone, with strategic commercial location two miles north of junction 28 of the M4 motorway.
A £13.7 million Welsh Government scheme to upgrade access to Junction 28 will be completed this year.
Rombourne has proven the success of its approach at its existing industrial estate in Moy Road in Taffs Well, Cardiff, where its investment in refurbishing accommodation has led to a 90% occupation of the estate within a year of completing the development.
Cushman & Wakefield and DLP Surveyors have been appointed as joint agents to market the new industrial park.
Chris Yates of Cushman & Wakefield said: “This site was an important source of jobs in the area for many years and it is tremendous news that investment is to be made to revive it.”
Michael Bruce of DLP Surveyors added: “Rombourne will be building on the success achieved at its other estates by creating quality, modern, flexible and affordable accommodation suitable for a wide range of businesses.”