The sale of a 16.61 acre site in Pontypool, South Wales for the development of light industrial units could create 100 new jobs, Economy Minister Edwina Hart has announced.
The site, located in Usk Vale, Mamhilad, has been purchased from the Welsh Government by family owned property company Formaction Limited – represented by Middleton Perry – which specialises in the acquisition and development of industrial buildings across South Wales.
Earlier this year the Welsh Government appointed DTZ in Cardiff to secure a buyer who could redevelop the site for employment purposes.
Agreeing the sale, Mrs Hart said: “The proposed development will have a positive impact on the local economy by providing much needed industrial space for small businesses, which will lead to the creation of 100 new jobs. We also expect a number of construction job opportunities to be created during the development of the site.”
The site has strong road links, fronting the A4042 and is 10 miles north of Newport.
Chris Yates of DTZ’s Industrial agency team in Cardiff commented: “Following substantial interest from a range of different potential users, we are delighted to dispose of the site to a developer who is focused on delivering a scheme that will provide good quality business accommodation for a range of occupiers.
He added: “The purchaser recognised the acute shortage of new build stock currently being undertaken in South Wales and saw the site as a key opportunity to deliver commercial premises in an area with limited modern accommodation. The deal also represents a positive sign for the South Wales industrial market which continues to show signs of improvement.”
James Perry of Middleton Perry added: “Formaction are preparing for the first phase of development which will comprise two terraces of light industrial units, each of approximately 20,000 sq ft, which will be available either as a whole or as individual units from 2,000 sq ft upwards. They hope to make a start on site by September of this year”.