A one-off development scheme in one of the Newport’s most prestigious addresses could prove to be a golden opportunity for an entrepreneur.

The substantial property on Gold Tops in the heart of the city’s professional district, is one of the lots set to come up for auction at the next Paul Fosh Auctions sale.

The former office building at 9 Gold Tops has planning permission for an extension to be built and for conversion of the existing building to provide nine, self-contained apartments with parking.

The guide price is £240,000-plus.

Sean Roper, of Paul Fosh Auctions, said: “This development opportunity is situated close to Newport Civic Centre and just a quarter of a mile from the city centre with its new Friars Walk shopping centre.

"The city of Newport is increasingly on people’s radar as the economy of the area picks up. This can only get better as people take more of an interest in the city in the wake of the recent decision over the axing of the tolls on the Severn Bridges at the end of next year.”

Planning permission has been granted for conversion to four, two-bedroom apartments; three, one-bedroom apartments and one, three-bedroom apartment, some with two bathrooms, some a terrace and others with a balcony affording sweeping view across the city, the port and the River Severn beyond.

The development opportunity is included in the next Paul Fosh Auctions sale which is on Thursday, September 7, at The Park Inn Hotel, Cardiff, starting at 5pm.