ABP invests in Port of Newport after 15-year customer lease extension

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Image caption: Aerial view of ABP’s Port of Newport

Associated British Ports (ABP) has announced a new contract extension with Asset VRS, which is a division of Hill & Smith Ltd. Asset VRS manufactures and hires temporary road barriers throughout the UK and has been a customer at the Port of Newport for 12 years.

Asset VRS has operated from South Wales for over 20 years and will now export product to Australia and New Zealand from its storage depot on Tom Lewis Way at the port.

Backed by substantial ABP investment into its facilities at the Port of Newport, Asset VRS has increased its yard capacity from 6.52 acres to 13.41 acres, with the development of a new workshop and offices. The lease extension the parties have just signed will secure the business on the port for the next 15 years.

Asset VRS General Manager, Peter Flavell, said: “The Company currently employs 20 personnel directly at its Storage and Maintenance Depot on the ABP Docks site and contracts more than 20 companies in South Wales with an annual spend exceeding £3m.

“Increased logistical, manufacturing and assembly activity over the past 5 years has doubled its numbers of direct employees and an Apprentice recruitment programme is under review for 2022.

“Our commitment to the South Wales economy is absolute and our partnership with ABP forms a strong bond in this regard.”

Speaking about the partnership, Helen Thomas, Head of Property, Wales & Short Sea Ports, said: “We are delighted that Hill & Smith Ltd have signed a new lease extension at Newport, and that we are able to help accommodate the growth of their business. We look forward to continuing the hard work both teams have accomplished once the work has been completed next year.”

The project will be delivered by ABP and forms part of a strategy of developing its industrial land bank, to provide a high-quality property offer to the regional and national market, helping support customer growth.

Businesses interested in finding out more about leasing and development opportunities are invited to contact ABP’s property agents Cushman & Wakefield or Jenkins Best, or visit property.abports.co.uk for more information.