THE planned closure of Admiral's Newport offices has been met with disappointment across the city.

The Welsh financial services provider says it is "consolidating its South Wales property portfolio in response to its commitment to hybrid working".

The changes will see the company close two offices in Cardiff and Swansea, in addition to the phased closure of its Admiral House office in Newport.

Those currently working in Newport will, after the closure, be transferred to the Cardiff office.

Kevin Ward, Manager of Newport Now BID said: "Naturally, the BID and our members are disappointed with Admiral's decision to pull out of Newport.

"Whether the decision will have an immediate negative effect on footfall is debatable, particularly as there has only been a small percentage of Admiral staff in the building for the last 20 months and, of course, the closure is being phased between now and the start of 2023.

"It should also be remembered that Admiral still has a long lease on the building, so it is in its interests for new tenants to be found.

"There is still a demand for A1 office space in the city centre, so we are hopeful the building will not stand empty.

"The BID, as a collective of city centre businesses, will do all we can to assist."

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Admiral confirmed that there currently "900 colleagues connected to our the Admiral House office".

However, they said the "vast majority" of staff have been and still are working at home.

Ruth Jones, MP for Newport West, said: "It is very disappointing that Admiral have taken the decision to consolidate office space in Cardiff at the expense of Newport.

"While I understand the need to rationalise office space given the change in working patterns post pandemic and  the cheaper business rates in Newport, it doesn’t seem to make financial sense.

"However the decision has now been taken and my main concern is that no jobs are lost as a result of this closure. We have been given assurances that no jobs will be lost and the recognised trade union within Admiral are busy ensuring that their members are protected during the transition."

John Griffiths, Newport East MS, said: “Admiral have always been one of our key employers in Newport so their decision to move jobs to elsewhere is certainly concerning.

"Because of where they are based in the city as well, having a sizable workforce there has always been of economic benefit to our high street area. The key thing now is for the company, the council, and others to find alternative tenants for the building – and this needs to be done as speedily as possible.

"This is a decision which impacts our whole city.”