Admiral House, the new home to insurance firm Admiral in Newport city centre, is being marketed as an investment opportunity for £17.5m.

The building, which welcomed Admiral staff for the first time early last month, is being leased to Admiral on a 20-year lease, with a break clause at 16 years.

The 81,000 sq ft, state-of-the-art grade A office building in Queensway, over looking Newport's train station is being jointly marketed across the UK by Cooke & Arkwright on behalf of developers Scarborough, which is developing the whole of the site on what was the Cambrian Road car park.

A spokesman for Cooke and Arkwright said the building was 'stimulating interest from national fund managers'.

He said that phase two of the development, which would include retail and leisure outlets on a plaza area above Queensway, was now also being marketed as The Station Quarter. It is hoped this area would attract coffee shops and restaurants as well as retail units.

When completed, pedestrians will be able to access the plaza via steps to one side of the entrance of Admiral House and a new set of steps would then lead them down on to Cambrian Road.