Ben Bolton, Director of Business Space at Cooke & Arkwright says the move is long overdue. “It removes at least one barrier to the success of the South Wales economy. The difference in prices between Bristol and east Newport is stark, whilst in distance and time it is relatively small. It can be anticipated that a degree of adjustment will take place with renewed interest in the area between Newport and the bridges. Sites such as Newhouse Farm and Gwent Europark will benefit, as should Queensway Meadows and Leeway Industrial Estate for example.”
Director Jeremy Symons commented, “The next step will involve a much bigger decision, relating to the Brynglas tunnels and the M4 Relief Road. As and when this obstacle is overcome, South Wales will then be on an equal footing with the South West of England, which can be expected to be of significant benefit to all concerned. Effectively, it could become a ‘South West and Wales Powerhouse’.
Commenting on the residential sector, Managing Director, Andrew Gardner said, “I’m aware that house agents in Monmouthshire anticipate increased interest from Bristol-based prospective purchasers because of the savings in commuting and cheaper house prices. We knew that there was already demand in the Newport area from first-time buyers from Bristol prior to this announcement, so we expect that this will further stimulate demand.”