South Wales Sees Largest Industrial Property Sale

South Wales Sees Largest Industrial Property Sale

South Wales Sees Largest Industrial Property Sale

A 190,000 sq ft former engineering works on a 10 acre site adjacent to the East Gate at Port of Newport has been purchased by ABP South Wales. The sale of the site, known locally as the Neptune Works, is believed to be the largest industrial property sale in South Wales so far this year.

By purchasing the Neptune Works, the port owner and operator will be able to expand its offering to customers interested in port-centric manufacturing. It will also serve to increase storage capacity for current customers who export and import via the Port of Newport.

“The Neptune Works lies adjacent to the northernmost part of the port and its acquisition makes perfect sense – either to enhance access to the port, enable us to expand by adding good quality storage accommodation or by letting it to a third party,” said Rhys Morgan, Head of Property, ABP South Wales.

“For instance, its size, height of access, cranes and yard space make it potentially attractive to accommodate plant and engineering works for some of the major infrastructure projects under way in South Wales and across the South West, such as Hinkley Point C,” Rhys continued.

ABP has invested significantly in Newport over the past few years, in schemes including new warehousing facilities, open storage areas, and additional rail sidings.

The Neptune Engineering Works was established early in the 20th century and soon after became Braithwaite & Co., Neptune Works. The works specialised in structural steelwork and continued to do so as part of the Rowecord Group. It was more recently used by AIC Steel.

ABP South Wales’ five ports of, Newport, Cardiff, Barry, Port Talbot and Swansea contribute £1.5 billion to the UK economy every year and support 21,800 jobs across the nation, as well as handling over 12.5 million tonnes of cargo every year.

South Wales Sees Largest Industrial Property Sale
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South Wales Sees Largest Industrial Property Sale

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South Wales Sees Largest Industrial Property Sale
BDC 280. MAY 2021

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South Wales Sees Largest Industrial Property Sale