Network Rail hopes for Midas touch

Network Rail has selected Bristol-based developer Midas to bring forward a 500,000 sq ft mixed-use scheme in Newport city centre.   Midas beat off competition from AWG, Cheltenham-based developer Robert Hitchin, and private Cardiff-based development group PMG for the 3-acre site next to Newport train station.   It will transform the site into a £100m development comprising 150,000 sq ft of offices, 150 flats and a 1,000-space car park. The scheme, called Central Point, will also feature a hotel.   John Burrows, chief executive of URC Newport Unlimited, said: “This is one of the most important city centre sites in Wales. Everything possible must be done to ensure it provides as much high-quality office space as possible.”   A planning application will be submitted later this year. Construction, subject to planning, is scheduled to begin in 2009.   neil.jones@rbi.co.uk