Howard Tenens has taken a new lease on a 145,236 sq ft warehouse premises at ABP’s Port of Newport.
The unit, known as the Neptune Works, is part of a self-contained 9.53-acre site fronting onto the junction of Usk Way and the A48 Southern Distributor Road, positioned at the entrance to the Port of Newport.
The property, located at the East Gate entrance to Newport Docks, was formerly the home of AIC Steel. In 2018, following the closure of the operation, it was acquired by ABP in what represented one of the largest property transactions in South Wales last year.
Howard Tenens will be using the unit for a period of six years as part of the lease.
Simon Emms, MD, Property, at Howard Tenens said: “Having refurbished this facility in a very short space of time, our Logistics business has been able to exceed their customers’ expectations and demands. We appreciate ABP’s commercialism and swiftness in facilitating this transaction and look forward to working with them in the future.”
ABP has a network of 21 ports across England, Scotland and Wales and its Port of Newport is the biggest general trading port in South Wales, handling predominantly timber, steel and animal feeds.
Cushman & Wakefield advised the landlord, Associated British Ports (ABP), while Howard Tenens represented themselves in the transaction.