12/01/12
Admiral Group plc has announced provisional plans to take a 20-year lease on a new 77,000 sq ft office building in Newport city centre as part of its continued commitment to south Wales. The company anticipates the building will be ready for occupation by the end of 2013 and will be able to accommodate up to 1,200 members of staff.
The new development will form part of Scarborough Development Group’s redeveloped Cambrian Centre in Queensway, opposite Newport train station. The building’s excellent train and bus links, together with the number of local car parks were major factors in Admiral’s decision to take space there.
Huw Llewellyn, head of property for Admiral Group, said, “Since we opened our first office in Newport in 2008 it has been a great success. We are committed to the city and hope to grow our operation there.
“The new location in Queensway should be much better for our current employees and any future new recruits in Newport. As well as great transport links they will have access to all the amenities and facilities of Newport city centre.”
Admiral currently employs 450 people in two offices at Langstone Business Parkand moving to the new location gives Admiral the chance to grow should the company need to.
Newport City Council leader, Councillor Matthew Evans, said: “This announcement is a great start to the new year and also a wonderful boost to the physical regeneration of Newport’s city centre.
“I am absolutely delighted they see Newport as an ideal location in which to expand. This will create jobs in the city and much needed employment opportunities for local people.
“It is a positive acknowledgement by Wales’ only FTSE 100 company that Newport is the right destination for them to grow and expand their business and they will have access to a talented and motivated pool of workers.”
Councillor Ed Townsend, cabinet member for regeneration, added: “It is brilliant news that Admiral wants to locate into Newport city centre.
“This investment is a massive boost for Newport and will benefit the city economically, aid its regeneration and shows that we are a city open and ready to do business.”
Admiral’s move comes as further developments are taking place in Newport city centre. A new multi million pound shopping development is planned for the city’s John Frost Square area and right at the heart of the city, Newport’s indoor market and its surrounding area being improved and opened up to public transport.
The move into the redeveloped Cambrian Centre is subject to terms being finalised between Admiral and the developer, Scarborough Development Group. Huw Thomas who acted for Admiral in the negotiations commented, “We have undergone a very thorough exercise to procure a quality building in the right location which will allow Admiral to grow their business in Newport and at the same time should have a very positive impact on the regeneration of the city centre.”