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Business Argus

Tuesday, February 4, 2014

Out & About

Harding Evans New Year party
NEWPORT-based law firm Harding Evans recently held its annual new year party for clients and other local business people

Imposing commercial property on market

Stephen Parker, Lyndon Bowkett

Khushboo Patel, Andrew Parker, Guy Jones

Janette Smith, Justin Kingdon, David Jones, Dave Gallivan

ONE of Newports grandiose and imposing commercial buildings right in the heart of the city centre has come on the market. The leasehold of the period, five-storey property, which until recently traded as a well established jewellers shop, at 3 Commercial Street, is being sold by Paul Fosh Auctions. The impressive property has been used for retail sales with an office and two secured safes on the ground floor with stairs leading to the basement. The first floor has two interconnecting rooms and the third floor has two more rooms with office or storage space also on the fourth floor. There are toilets and storage space on the lower ground floor. Paul Fosh said: Newport city centre is currently enjoying a substantial amount of regeneration and investment with a new shopping centre due to come on line which has already had Debenhams confirmed as the anchor store. There are also a number of national restaurant chains and retailers confirmed as occupants of this new development. The property, at 3 Commercial Street, would be ideal for persons looking for a substantial premises for their own business or potentially for an investor looking for a commercial property that may offer scope for rents estimated in the region of 15,000-25,000 for the full building. Paul Fosh Auctions is offering 38 years of the original 50 year lease, with a peppercorn annual ground rent of 1,300, for a guide price of 78,000 plus. The next Paul Fosh Auction, when this property and some 70 others will be up for sale, is on Thursday, February 13, starting at 5pm at The Park Inn Hotel, Circle Way East, Llanedeyrn, Cardiff CF23 9XF. For more details visit www. paulfoshauctions.com

JEWEL OF A PROPERTY? The lease for this commercial premises in the centre of Newport is for sale through Paul Fosh Auctions

Daniel Wilde, Derwyn Jones, Sam Warburton, David Lewis

Support strengthens for small Welsh businesses

THE Small Business Rate Relief Scheme will be extended in Wales until March 2015 the first minister, Carwyn Jones, has announced. Mr Jones told the Council for Economic Renewal in Cardiff that the extension of the scheme was the latest in a number of business rates measures that would help out small businesses based in Wales. We have shown time and again that we are a government that supports business. Extending the Small Business Rate Relief Scheme will support small firms across Wales with many paying no rates at all. This is in addition to other targeted business rate schemes that we have established to boost businesses across Wales and encourage growth, he said. We have also asked Professor Brian Morgan to seek the views of Welsh businesses about how we can make the best use of new powers over business rates when they are devolved to us. During the meeting of the council, economy minister Edwina Hart also announced that the Welsh Government was looking at options for a targeted fund to support businesses negatively affected by the deferral of revaluation. Mrs Hart said: The UK government recently announced it intends to fully devolve business rates to Wales following the Silk Commission recommendation, which we supported. But we arent standing still waiting for full devolution. We recently announced that business rates increases would be capped at two per cent next year a move which will inject money into the Welsh economy . Now we have successfully pressed the UK government to extend Small Business Rate Relief in Wales. I will now look at the options for a fund to further support businesses, particularly those who have been disadvantaged by the deferral of business rates revaluation until 2017. This follows schemes we have established to support businesses in Enterprise Zones; to bring long-term empty property back into use; and to encourage speculative development. The Welsh Government also recently announced 200,000 of funding to start-up Business Improvement Districts, of which Abergavenny was one of the successful applicants.

Ten-year plan to build skills of the nation revealed

Chris Clarke, David Morgan, Paul Graham, Campbell Lammie

Amber Bishop, Julie Lavendar, and guest For more images visit facebook.com/SWABusiness

A NEW 10-year plan to help Wales evolve into a highly-skilled nation and create the conditions that businesses need to grow and flourish has been launched by deputy minister for skills and technology Ken Skates. The Policy Statement on Skills sets out the steps which need to be taken to develop a resilient, responsive and sustainable post-19 skills system. This vision, the statement argues, requires responsible action from government, employers and individuals. The statement announces the Skills Gateway which will provide easy access for both individuals and employers wishing to access skills support in the future. It also underlines how employers can co-invest in their employees skills with the Welsh Government. The statement was developed in consultation with key stakeholders, including FE college principals, the National Training Federation for Wales, the CBI, Wales TUC, FSB, Commerce Cymru, and the Wales Employment and Skills Board. Ken Skates said: (investing in skills) will define our future competitiveness as a nation.

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