ABP South Wales has purchased a 190,000 sq ft former engineering works on a 10 acre site adjacent to the East Gate at its Port of Newport.
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.
The purchase of the Neptune Works will allow the port owner and operator 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.
Rhys Morgan, Head of Property, ABP South Wales, said:
“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.
“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.”
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.