Morrison Development and Broadhall have won outline consent for their £75m Celtic Springs Business Park in Newport, Wales, which at 600,000 sq ft will be one of the largest developments of its kind in Wales.
The news came as the JV announced plans to speculatively develop 4,645 sq m (50,000 sq ft) of offices at the 18.2ha (45 acres) site. Morrisons development manager, Peter Walford, said: “The strong interest were receiving is leading us to consider a speculative 50,000 sq ft office building.”
The scheme is being marketed as an ‘e-commerce’ park in a bid to lure hi-tech and internet companies away from the traditional new-techology base of the M4 and Thames Valley. Joint managing partner of Knight Franks Cardiff office, Tony Nicholas, said: “The Thames Valley has high rents and suffers from a saturated workforce. This will be the first business park in Wales that has the quality of the Thames Valley.”
The JV also plans a four-star hotel and associated retail and leisure facilities at the site. A detailed planning application will be submitted to Newport council shortly.
Celtic Springs will be marketed internationally, with the Welsh Development Agency assisting in the promotional campaign. Knight Frank and Hutchings & Thomas have been appointed joint agents.
EGi News 02/10/00
