GWENT property firm Johnsey Estates is fine tuning a ‘very significant planning application’ to create an urban village in east Gwent.

The proposed scheme, if allowed, would be created on some 150 acres of former industrial, manufacturing and office land owned by the company close to its base at Mamhilad, near Pontypool.

Johnsey Estates UK chairman Andrew Wilkinson said: “We expect to submit a very significant planning application towards the end of the summer for a new urban village at Mamhilad to incorporate substantial use of brown field land for a residential-lead scheme while still retaining and growing the business park (Mamhilad Park Estate).”

Mr Wilkinson, outlining the proposals and other plans for the business at an industry event at its Mamhilad Park Estate headquarters, said: “We also hope to be buying more property again very shortly as we look to expand and grow the business again.”

The company chairman revealed 100 businesses had relocated to its Mamhilad Park Estate office complex in the past two years with some ‘very significant lettings in the pipeline'.

He said the company’s development scheme at Abergavenny was also proving to be a great success.

Paying tribute to Johnsey Estates founders, the later Terry Johnsey and his wife Margaret, Mr Wilkinson said the current business was based on the couple’s ‘entrepreneurial skills which had laid the foundations upon which the future of the business is now being built'.

Mr Wilkinson said: “Theirs is a remarkable legacy, most notably at Mamhilad but also elsewhere in South Wales including Westgate, Abergavenny, where we expect to conclude a range of very significant lettings and sales imminently to four household names.”

He said the company had emerged form the ‘very deep’ economic recession which was ‘the worst in living memory for the property and banking industries which required an element of retrenchment in order to reposition the business for a successful future'.

“The result is clearly evident here at Mamhilad with significant ongoing investment in the real estate as an essential element of re-positioning to suit the needs of today’s businesses.”

Johnsey Estates UK’s aim of creating the right office and work space environment had seen 100 businesses relocated to Mamhilad since 2014.

“We have more refurbished offices available now together with some very significant lettings in the pipeline. During 2016 we have concluded new lettings at average rate of one a week.”

Mr Wilkinson said Johnsey Estates UK were now looking for new opportunities but the assets it currently holds were capable of creating long term shareholder value.

“The ingredients are here for a bright future to build the company into a modern and forward looking property investment and development company,” he said.