New investment in Newport

Developer Robert Hitchins Limited has announced the construction of 24 Severn, a high quality courtyard development of five flexible office buildings in Newport.

Developer Robert Hitchins Limited has announced the construction a high quality courtyard development of five flexible office buildings situated at Langstone Business Park in Newport, adjacent to Junction 24 of the M4 and the A449.

Work is being undertaken by construction company, Stradform.

Built in an accessible and attractive location, the high-spec units range from 3,230 sq ft to 11,675 sq ft and come with their own dedicated car parking areas.

The development is due for completion in November 2005.

Properties are available on a leasehold basis or to purchase freehold, and it appears current economic conditions are making the latter option extremely popular with businesses, according to both developer and agent.

Jonathan Phillips, an associate with selling agent, King Sturge, comments: "The freehold sector of the market is particularly strong because interest rates are low".

"In addition, the tax advantages of Self Invested Personal Pension Plans (SIPPs) have made investment for businesses in their own premises a very attractive proposition." David Herbert, development consultant, South Wales for Robert Hitchins, adds: "We have seen an increase in the number of businesses investing in commercial property as part of a SIPP in order to enjoy the benefits of tax efficiency, greater flexibility and control".

"The purpose-built, modern facilities at 24 Severn will be attractive to a whole range of organisations".

"The building offers businesses and staff a pleasant working environment with good links to Newport city centre and the commuting areas of Monmouthshire".

24 Severn is ideally placed between Cardiff and Bristol and offers convenient access to the Midlands.

The site is next to the Hilton Hotel and overlooked by the popular Celtic Manor resort".

""The location of 24 Severn is very appealing for public and private sector clients looking for synergy of business between South Wales and Bristol".

"Eastern Newport offers fast and easy road access - considered a major asset by tenants and buyers alike," continues David Herbert.

Facilities including lifts, recessed VDU compatible lighting, kitchen/storage facilities and optional comfort cooling, plus 127 dedicated on-site car parking spaces.

The first two units due for completion at 24 Severn are under offer before any topping out has even taken place and are already attracting businesses keen to reap the benefits of investing in their own premises, as well as taking advantage of the site's geographic location".

"We are pleased to be involved in the provision of high quality office units, built to the highest specification".

"This is a prime site and the development will provide a flexible and modern approach to office accommodation with sales already well underway," says Jon James, operations director for Stradform.

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