Welsh assembly in major regeneration plan - commercial mortgages

04 June 2008

A new regeneration plan has been devised for a run-down location in south Wales, the Welsh assembly government has announced.

The 100 acre site at Maesglas in Monmouthshire will be compulsorily purchased and then redeveloped as a major mixed-use site in a move that could rejuvenate the local economy, Property Week reports.

Previously it was the home of the Whiteheads Steelworks and Monmouthshire Bank sidings.

A Welsh assembly spokesperson said: "We''re seeking to assemble some 100 acres of land at the Whiteheads-Monbanks sidings site at Maesglas, Newport, for a comprehensive, mixed use development."

The creation of new commercial properties on the site could lead to new opportunities arising for investors to take out commercial mortgages in the area.

In another mixed-use redevelopment project, it has been announced that work will begin on a site in Bristol following the granting of planning permission last week, Property Wire reports.

The Hengrove Park site in the south of the city is a former airfield.