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Business

Economy Minister congratulates Celtic Freeport consortium on winning bid

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ECONOMY MINISTE, Vaughan Gething, was in Port Talbot today to congratulate the Celtic Freeport consortium on their successful bid to be Wales’ first freeport, which is set to deliver tens of thousands of new, high-quality jobs in south west Wales.

Last week, the Welsh and UK governments jointly announced the Celtic Freeport in Milford Haven and Port Talbot, and Anglesey Freeport on Ynys Mon, have been chosen as Wales’ first freeports.

The two freeports aim to collectively create around 20,000 jobs in the green industries of the future by 2030 and attract up to £4.9 billion in public and private investments.

The Celtic Freeport will be based around the port of Port Talbot in Neath Port Talbot, and the port of Milford Haven in Pembrokeshire.

The freeport plans focus on low carbon technologies, such as floating offshore wind (FLOW), hydrogen, carbon capture, utilisation, and storage (CCUS) and biofuels to support the accelerated reduction of carbon emissions.

The freeport aims to attract significant inward investment, including £3.5 billion in the hydrogen industry as well as the creation of 16,000 jobs, generating £900 million in Gross Value Added (GVA) by 2030, and £13 billion by 2050.

The Minister visited the port of Port Talbot earlier today, which will become one of the focal points of the new Freeport – which is expected to be operational later this year.

Speaking during a visit to Port Talbot, Economy Minister, Vaughan Gething said: “It was great to be in Port Talbot today to congratulate the Celtic Freeport team on their successful bid.

“From off-shore energy to advanced manufacturing, the Celtic Freeport will help create tens of thousands of new, high quality jobs in the green industries of the future. it will support our highly ambitious plans to reach net zero by 2050, while also supporting our young people to plan their futures here in Wales.

“All this will help us transform the economy of south west Wales, helping us create a stronger, fairer and greener future for local people and communities.”

Roger Maggs MBE, Chair of the Celtic Freeport consortium said: “Wales is on the cusp on an exciting green journey.

“The freeport decision will cause a chain reaction.

“Upgrading our major energy ports in Milford Haven and Port Talbot will enable floating offshore wind, create the cradle to nurture new green tech companies and take a step on the path to greening Wales’ steel industry.

“Now is the time for action so that Wales captures the renewable energy supply chain.”

Andrew Harston, Director, Wales and Short Sea Ports, Associated British Ports (ABP) said: “The roll-out of floating offshore wind, or FLOW, in the Celtic Sea provides a once-in-a-lifetime opportunity for Wales. Port Talbot is the ideal location for the deployment of FLOW, and ABP is ready to invest over £500m in new and upgraded infrastructure to enable this and to ensure first-mover advantage to capture this global market. The Celtic Freeport provides a huge opportunity, and not just for FLOW, but for sustainable fuels and hydrogen too.

Business

Pembrokeshire coach house to be converted into holiday let

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PLANS to convert a Pembrokeshire coach house barn as part of the expansion of a local holiday let business has been approved.

In an application to Pembrokeshire County Council, Mr and Mrs Rodney sought permission for the conversion at Johnston Hall, Church Road, Johnston, having recently purchased the existing business.

A supporting statement through agent Hayston Developments & Planning Ltd said: “The business currently consists of three self-catering units of which two are within Johnston Hall and a third is a detached barn conversion as a disabled friendly holiday unit. This third unit has recently been completed and is open for business. All three existing holiday units offer high-quality visitor accommodation set within an attractive garden and wider grounds setting.”

More recent applications have been submitted for the site, including a scheme for three shepherd huts and a new covered swimming pool, with the latter to serve both personal use and for on-site holiday makers, which was refused permission last summer.

“Although this application was refused in July 2024, it is clear from reading the delegated report that there was no objection to the swimming pool element and that the refusal was solely in regard to the proposed three shepherd huts (i.e. siting and conflict with planning policy),” the statement says, adding: “A revised application for the provision of the covered swimming pool has recently been resubmitted for consideration by the council.

“A further stage of the business is to convert the two-storey traditional stone coach house building, located to the immediate east of the main house, for use as holiday accommodation, thus strengthening my client’s holiday let business.”

An officer report recommended approval for the holiday let, comprising five bedrooms over two levels of accommodation with associated car parking provision and external amenity space, said

The application was conditionally approved by county planners.

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Business

Tenby caravan park could be set for huge redevelopment

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PLANS to redevelop a Pembrokeshire caravan site to create “a notably higher quality” facility which will actually see less pitches have been submitted.

In an application to Pembrokeshire Coast National Park, Hean Castle Estate seeks permission for the redevelopment and extension of the existing Rowston Holiday Park, New Hedges, near Tenby, including the installation of bases for the siting of caravans; demolition of buildings; and the conversion of an agricultural barn to a residential dwelling, along with associated works.

Alongside Rowston, Hean Castle Estate owns and manages land and property locally including nearby Scar Farm Holiday Park with 145 owner-occupied static holiday homes and Coppet Hall Beach Centre, as well as agricultural, forestry and residential properties.

The proposals will see the actual number of holiday accommodation pitches at Rowston decrease from 225 to 187, “while making significant environmental enhancements to landscaping, visual effects, biodiversity and the highway network,” the applicants say.

A supporting statement through agent Lichfields says: “Substantial investment will be made by Hean Castle Estate that will result in the removal of dense and visually prominent caravans in linear layouts which will be replaced with lower density, relaxed layouts of muted colours that are embedded within extensive new native tree and hedgerow planting.

“The shift to create a notably higher quality caravan park will attract new and repeat visitors across most of the year, reinforcing the tourist accommodation offer in the National Park, in line with the objectives of the Local Development Plan.”

It says Rowston was previously operated by a third party under lease but its layout no longer meets “the demands of the modern tourism industry, and the lack of any substantial landscaping on the Park means that it does not fit with the estate’s ethos of maintaining a working landscape”.

It adds: “Hean Castle Estate aspires for Rowston Holiday Park to provide an attractive, well-landscaped retreat with mature trees and hedgerows. The static caravans would be sold to private owners and would not be available for sub-let.”

The proposed development includes the removal of the remaining existing bases, and installation of new bases for the siting of 172 static caravans across the existing holiday park and proposed extension area, with 95 bases in the existing park and 77 in the extension area, 15 touring pitch bases in the existing park, the demolition of former laundrette and diner buildings, demolition of two agricultural buildings, the conversion of a barn to manager accommodation, the creation of 273 parking spaces, and other works.

The application will be considered by park planners at a later date.

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Business

House prices edge up in Wales as economic concerns hit confidence

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HOUSE prices in Wales continued to edge upwards in March, according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey. However, short-term expectations for both prices and sales have declined, as economic uncertainty begins to weigh on market sentiment.

A net balance of 6% of Welsh surveyors reported that house prices were higher over the past three months—the first quarter of 2025—although the increase was marginal.

Despite the slight rise, confidence in the near-term outlook has weakened. A net balance of -24% of respondents now expect house prices to fall over the next three months.

Sales expectations have also taken a downturn. A net balance of -39% of Welsh respondents anticipate a fall in sales during the second quarter of the year, a significant drop from the 12% expecting growth in February.

The decline in optimism follows a fall in demand last month. A net balance of -25% of respondents reported a reduction in new buyer enquiries, while agreed sales also slipped, with a net balance of -7% reporting a fall—marking the second consecutive month in negative territory.

On the supply side, however, there was a more positive signal. A net balance of 24% of Welsh surveyors said there had been an increase in new instructions to sell.

Looking further ahead, the longer-term outlook remains more upbeat. Although the 12-month sales balance has now turned negative, a net balance of 33% of Welsh respondents still expect prices to be higher in a year’s time.

In the lettings market, a net balance of -17% of Welsh respondents reported a fall in tenant demand in March, while landlord instructions fell sharply, with -50% reporting a decline. Nonetheless, rents are expected to rise in the short term, with a net balance of 33% anticipating increases over the next three months.

Anthony Filice FRICS of Kelvin Francis Ltd in Cardiff said: “There are increased levels of instructions and a healthy level of viewings. Sales are being regularly agreed and vendors are increasingly taking advice on accepting offers.”

On the lettings market, he added: “There is a healthy choice of properties available, but with rising rents, tenants are taking time to select. The lower-priced properties are letting the quickest.”

RICS Chief Economist Simon Rubinsohn commented on the UK-wide picture: “The expiry of the stamp duty break was always likely to trigger a pause in activity. However, the latest results—and anecdotal evidence from respondents—suggest sentiment has also been dampened by the recent wave of negative macroeconomic news.

“Going forward, much will depend on the broader economic impact of the emerging trade war and how the Bank of England responds. While longer-term expectations remain relatively resilient, they could shift quickly if global headwinds intensify.”

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