Investors give Newport development top marks

Financial adviser Robert Kenny has a degree of pride in the rejuvenation of his home city of Newport, South Wales. The shrewd property investor reckons a combination of economic growth, the 2010 Ryder Cup at the Celtic Manor and a growing student population provides real opportunity for buying property in the ‘gateway’ city to Wales.

Robert was among the early buyers at Alexandra Gate, a development of almost 400 new homes by Redrow Homes (South Wales), with an excellent waterside location next to the River Usk.

With a choice from one-bedroom apartments right up to four-bedroom houses, Robert is buying a three-storey townhouse, which he thinks is ideal for professional people sharing or student accommodation, as well as a two-bedroom ‘coach house’ style apartment.

Said Robert, who runs Elite Property Investments Ltd, which caters for investors in the UK, Europe and New Zealand: “South East Wales is one of the regions within the European Union demonstrating greatest economic growth and development; indeed a survey two years ago put this region as second only to Dublin/Ireland in economic growth terms.

“Newport’s city status, major refurbishment of the Kingsway Shopping Centre, the arrival of golf’s Ryder Cup in 2010 and the city’s continuous success in attracting regional and national headquarters of companies to its business parks are just a few of the reasons for my confidence in the economic growth of my home city. This will have a significant knock-on effect on demand for housing.”

Of Redrow’s development he comments: “Alexandra Gate is a very attractive proposition for investors. Redrow is in a perfect position to take advantage of the increased commercial activity and the scheme is perfect for residents who want property with attractive views, with easy access to the M4 motorway and other major cities.

“Another real opportunity for investors in the area is the hefty student population, which always creates a strong demand for accommodation. The proposed development of a new campus for Newport’s university very close to Alexandra Gate will inevitably result in demand for more convenient student accommodation in future years making this location a good long-term prospect.”

In addition to Redrow’s multi-million pound re-development of the former Black Clawson engineering works site at Alexandra Way, where demand has been overwhelming, urban regeneration company Newport Unlimited has exciting plans for an office district, an 80 room hotel, a park and leisure facilities in the area known as Old Town Dock.

Debby Pavitt, area sales manager for Redrow Homes (South Wales) said: “Robert is typical of many of our investors at Alexandra Gate, who can see that the riverside location, ease of access and major investment in the area add up to a real opportunity.

“Like many investors he wants to let his properties and the growing number of business located here and the increasing student population in the city both offer him potential tenants.”

Current availability at Alexandra Gate includes one and two-bedroom apartments from £125,995 and £175,995 respectively, and three and four-bedroom terraced homes currently from £195,995 to £269,995. The first homes should be ready to move into later this year.

For more information about availability at Alexandra Gate, log on to Redrow.co.uk/developments/view/141; or for details of Redrow’s developments across South Wales and the rest of the UK, visit Redrow.co.uk.