business

Issue 145 April 16, 2013

Apprenticeships the way forward?

See page 4

update

Firms sign up for corporate challenge

Newport-based accountants UHY Peacheys has signed up to take part in the Gwent Wildlife Trust Corporate Challenge. The Trust, which is celebrating its 50th anniversary, is to give businesses which sign up to its Corporate Challenge, 50 seed funding. The challenge to those wanting to take part is to turn that seed money into as much money as possible for the trust in the space of four months. All the trust asks is that organisations raise as much money as possible, however they want. GWT fundraising officer Liesel Townley said: Employees can organise a cake sale, take part in a sponsored event or hold a quiz evening, invest it in the stock market or organise social activities. The list is endless and as long as it is legal and ethical, it is fine. Rachel Morgan, senior accountant at UHY Peacheys, said: The Gwent Wildlife Trust is a fantastic cause and as a team of accountants this particular fundraising initiative is perfect of us. We are still in the early planning stages, but our initial brainstorming session generated a number of potential schemes and the ideas are still pouring in. The challenge is being sponsored by Ancre Hill Vineyard and will be officially launched on June 13 at the Monmouth Vineyard at 3pm. At the event signed up teams will be given their fundraising packs and a crisp 50 note. For more details contact ltownley@gwentwildlife.org or phone 01600 740600.

Clarence House, Newport, overlooking the River Usk

Iconic office building is bought for 4m

N
ewports Clarence House is in new hands after the eleven storey office block was bought at auction in London for just under 4m. The tower block at Clarence Place, Newport, opposite the citys historic art college building and overlooking Rodney Parade, has been bought by London based property investment firm. The building was sold at auction in London by Allsops for just under 4m reflecting a gross initial yield of 19.43 per cent. David Jones, of Hutchings & Thomas Chartered Surveyors, who are based in the building and were joint auctioneers for the sale, said: There was keen interest from both home and abroad in acquiring the building before it went to auction, which is very encouraging for the city of Newport. The new owners, plan to make improvements both internally and

By Jo Barnes
externally to the building to boost its overall appeal to existing and prospective occupiers. Large screen plasma TVs are to be installed in common areas on each of the floors, the adjoining multi storey car park space is to be improved and a gym for the use of occupiers is being installed on the first floor. One of the first steps taken by the new owners is to reduce the rent afforded to new occupants of the 100,000 sq ft block of a market leading 5 psf for an introductory period of 12 months. David said: This market leading rent is aimed at attracting start ups and those looking to take their business to the next stage, to consider locating to Clarence House. We believe this very competitive

rent could prove most attractive to businesses and individuals who may currently be looking at quality office space in Cardiff or Bristol. Clarence House is currently two thirds occupied by a number of clue chip clients including the courts service, GXS, AC Nielson and local and national politicians. There is some 30,000 sq ft available predominantly on floors 8, 9 and 10. David said the office space commands uninterrupted views of the city of Newport, the River Usk and the surrounding area. The new owner had stressed their willingness to carry out works to occupier requirements which will give the offices a real and tangible advantage in the current challenging market when looking to attract potential occupiers to Clarence House. David Barnes, Chairman of The City Turn to page 7