A new asphalt supply company, Dragon Asphalt, has signed a lease with ABP South Wales that has allowed them to open their first site at the Port of Newport.
Port Owner and Operator, ABP South Wales, has leased the 2 acre site, located at West Way Road, Alexandra Docks, to Dragon Asphalt, on a long-term lease.
Dragon Asphalt has invested £2.5million in the construction of new premises at Newport docks, which became operational in September 2018. The company employs five full time members of staff at the site. They also work with several local contractors who undertake electrical and maintenance work to support the business.. Newport was chosen as the base for the business due to the economic viability of the area.
Rhys Morgan, Head of Property, ABP South Wales said: “We are pleased that Dragon Asphalt has chosen to launch its business at the Port of Newport. The port is able to offer tailored property solutions and is supported by excellent multimodal transport links.
“As well as a large land bank, we have access to in-house funding which allows us to easily support new and smaller customers who wish to open facilities across our ports in South Wales.”
Dragon Asphalt is able to support the needs of both small and large companies and aims to work with businesses to become an efficient and adaptable supply chain partner. The business aims to reach an annual turnover of between £2million and £3million.
Michael Cowley, Managing Director, Dragon Asphalt, said: "We moved into Newport for a few reasons. Number one is the financial investment that's gone into the Cardiff and Newport area. I also think the tolls being removed on the Severn Bridge will improve the economic aspect and viability of the Newport area. We've started by serving the local market and are on target for where we thought we'd be in our first month of business.”
ABP South Wales has a dedicated property department that delivers commercial property solutions in strategically-significant locations across its five ports. The specialist team works with customers to ensure they have the land and buildings they require to support and grow their businesses.