LORD Tredegar’s former estates office in the heart of Newport has become a magnet for business in the 21st century after being transformed into serviced offices.

The historic city centre building is proving a honey pot for small and medium-sized businesses after reopening a year ago after a complete refurbishment and rejuvenation.

Dating back to 1905 the Grade II listed building at Pentonville, Gold Tops, is in the heart of the city of Newport’s commercial and professional district.

A financial factoring business, which moved to Newport from Bedwas, Caerphilly, is the latest to take space at The Estates Office and means that the 8,000 sq ft building is now almost full with just 600 sq ft remaining.

In total there are now nine separate businesses in the building together employing almost 40 people.

Bought by private investors from the South of England after previously being used as court house, the historic building, it provides ultra modern connected office accommodation.

Fiona Weaver, of lettings agency Hutchings and Thomas, which is also based in the building, said: “The Estates Office is providing just what the SME market needs in terms of serviced office accommodation. The iconic building, with its eclectic mix of historic architectural features and modern fit out, is also ideally located next to the city’s main line railway station and close to the M4.

“The Estates Office has had and continues to play an extremely important part and a significant place in the history of Newport. The building was the main estates office for the Tredegar Estates and helped shape and develop a great deal of south east Wales."

Ms Weaver said the latest tenant, Simply Factoring Brokers, has taken 750 sq ft in what was the former stables block. The ground floor building, which has been completely refurbished to the client’s exact specifications and internal corporate colour requirements, has been let at £10,000 per year for an initial three year term.

The other tenants in the Estates Office building are Gloucester-headquartered architect’s Robert Limbrick, which opened its regional office, Parade Design, DB Public Relations, Create Wealth, Maria Farelly Photography, Study Bridge, Atlas AV and G2A Energy.