THE WELSH Development Agency is crowing about its speculative-build Pavilion complex on Llantarnam Business Park.

The agency has claimed that although marketing has just begun on the £3.9m project, its agents are dealing with inquiries for over 50 per cent of its 32,000 sq ft.

The Pavilion consists of six, high-specification buildings in a landscaped, campus setting.

In the next few weeks the agency expects to complete on the letting to a single user of one of the six buildings.

It also claims that two other hi-tech businesses are close to completing leases for complete floors in another building.

Through Chestertons, the agency intends to let the premises on a rental basis, retaining the development until fully occupied and then seeking an investment sale as soon as possible.

The WDA said it wanted to invest the proceeds in other projects. The rents quoted and apparently being achieved equate to £13.50 per sq ft.

The WDA claimed this was the best figure achieved outside Cardiff for such schemes.

WDA area development director Ed Bampton said: "This is probably the most attractive accommodation anyone has yet built in the region for smaller businesses.

"The units were designed specifically to attract and assist the growth of enterprises in the knowledge economy sector.

"The buildings, which achieved a BREEAM excellent rating, have set a new standard in quality and sustainability.

"We are employing a strict tenant selection policy restricting occupiers to technology companies to ensure we are not competing with the private sector for traditional office users."

The agency believes that the success of the development will encourage private-sector developers to invest in similar high- quality projects and environmental standards.