Enticing prospect for South Wales investors

With a forthcoming new state-of-the-art hospital and university campus, buy-to-let investors will be looking to take advantage of a potential influx of people moving to Newport over the next three years.

The city, home to The University of Wales, Newport, already has a buoyant rental market and Redrow's three-storey townhouses at Alexandra Gate are sure to appeal to tenants looking for a stylish and centrally-located property.

The award-winning housebuilder has four-bedroom, three-storey properties for sale from £169,995, along the banks of the River Usk, which form part of the £50million Alexandra Gate development of around 400 contemporary new homes.

Rachael Davies, area sales manager for Redrow Homes (South Wales), said: "These townhouses are sure to be a sound investment for buy-to-let purchasers, given their great location and affordability. Our four-bedroom Neale homes are ideal for multiple-occupancy, with four well-proportioned bedrooms, a first floor lounge, which could easily be transformed into a large fifth bedroom, a downstairs living area, two bathrooms, a downstairs cloakroom and spacious open-plan kitchen and dining room.

"It is an exciting time for Newport, which is enjoying the same sort of investment that has changed the fortunes of Cardiff and Swansea, and has a very bright future. The city is also playing host to the Ryder Cup in 2010, which will shine a global spotlight on this forward-thinking city."

The new homes are part of a major facelift for the city and the first part of the wider regeneration plans for Old Town Dock. The surrounding area will also contain an office district, an 80-room hotel, a park and other facilities all set along the banks of the River Usk.

With the M4 motorway nearby providing easy access to other major towns and cities, including Cardiff and Bristol, the development is perfect for commuters working outside of Newport.

Redrow's homes are currently priced from £99,995 for a one-bedroom apartment. Two-bedroom apartments are priced from £117,995, three-bedroom homes from £134,995 and four-bedroom homes from £169,995 - below the new stamp duty threshold.

For more information, log on to Redrow.co.uk.