By Gerald Davies, executive chairman, Kymin, Newport
It is said that January is the ‘divorce month’.
The reasoning goes that, having seen more than enough of each other over the Christmas and New Year break, couples decide to split up in January.
According to recent research, seven in ten couples don’t consider pensions during divorce proceedings. Yet the pensions of many couples are frequently the most valuable assets.
At Kymin, we are frequently consulted by solicitors to sort out the pensions in divorce cases.
While some pensions are relatively straightforward, others (for example, public sector schemes) are complex. One of Kymin’s directors, Chris Taylor, specialises in pensions and divorce cases.
Chris said: “Sometimes it is necessary to employ an actuary. This is the person who can accurately value Final Salary Schemes (sometimes called Defined Benefit schemes). Only once a true value has been established can the division of pensionassets be fairly made.”
Currently, only nine per cent claim they want a fair share of pensions, despite the average married couple’s retirement pot totalling £132,000. That’s more than five times the average salary (£26,000). In fact, more married people would be concerned about losing a pet during a settlement than sharing a pension.
It is important that everyone – whether single, married or divorced – takes steps to understand their finances and prepare for their independent future should a relationship break down.
Pension sharing was introduced 20 years ago, but it is clear that all too often in divorce, pensions are still not being taken into account properly, if at all.
When you consult Kymin about a pension settlement you will find us both friendly and helpful. It often happens that a close friend or relative will accompany you. We are more than happy for this to happen, as it can relieve the strain that some people feel when discussing what can be a stressful subject. We do our best to make things as simple and stress-free as possible.
Your first meeting with us is always free of charge and without any obligation on your part.
The Business meets owners of Newport-based Niche Hospitality, Lewis Lewis and Seng Koh, who spotted the potential to invest in Newport long before the Friars Walk effect…
Lewis Lewis, who has extensive experience in the hospitality industry at home and abroad, is a native of Newport and is passionate about the city and its potential.
Lewis said: “Both Seng and myself love Newport and at the time, long before Friars Walk had any impact on the city, we saw a gap in the market for dining and drinking concepts which we felt would bring additional footfall to the city centre rather than those customers having to travel further afield to get their needs catered for.
“You could almost say we saw a ‘niche’ in the market and with that Niche Hospitality was born.
“We started looking for sites to re-develop. We were keen to create unique signature dining and drinking venues. As a company we believe in reinvesting in existing sites and trying to work within premises which lie empty. The Business: What kind of a welcome have you had? LL&SK: Newport has been amazing to us. Not only have we built a loyal following but we have made friends and discovered suppliers along the way. We want to re-invest in our community and use local suppliers where possible.
TB: You have four businesses – Mojo the FoodBar, The Riverside Sports Bar and Grill, Pro-Vision Hospitality and Sixteen – have you plans to open more? LL&SK: Over the next year we plan to focus on our existing businesses to ensure they continue to succeed and develop. We are passionate about our people. We currently employ 32 people across our four businesses. We employ the best and aim for the highest quality, ensuring we continue to attract new customers and retain our loyal customers. We are, of course, open to new opportunities and if other exciting developments present themselves we will certainly not close any doors. We are also looking by the end of 2019 to have our very first restaurant and cocktail bar in Cardiff. TB: Why did you choose to base your businesses in Newport city centre? LL&SK: With Newport being a multi-cultural city with its own unique atmosphere, where traditional industries sit alongside new electronics and financial service sectors, we felt it would be a city which would embrace change. We felt it would welcome us and support anyone who wanted to add value by creating employment and new opportunities while bringing people to the city and supporting increased tourism.
TB: How have you found the process of opening businesses here? LL&SK: Newport has been, I guess, like anywhere else really – fairly easy to start-up a new business in. Sometimes you are presented with challenges and could do with more support, but now two years in we have a fairly good relationship with everyone we do business with.
TB: How much have you invested in your businesses? LL&SK: Easily well over £600,000 through equipment purchase, redevelopment, fixtures and fittings in all our premises. TB: What has recruitment been like? LL&SK: Recruitment is everyone’s worst nightmare. Sometimes it can be easy and there can be an abundance of the ‘right people’ around. Other times it can prove more challenging. Seasonality, for example, means lots of companies take on casual team members to help service their business. We have generally found great team members with the right skills from the local area and those studying in the university or colleges. TB: So, how has it been doing businesses in Newport? LL&SK: Newport, like anywhere, has challenges. We need to be a chameleon as a business and adapt accordingly to face those challenges – common financial struggles, changes in the local market and seasonality – to make sure we remain engaged. We try to focus on being involved in the local community by supporting charities, running free events, creating festivals, sharing through work experience and, ultimately, listening. Listening is one of the biggest things any business can do. We all think we know what we are doing and how it should be done. However, without feedback and listening to customers’ real needs and wants we cannot be the best. That has certainly helped us.
TB: What do you think about Newport in general? LL&SK: The best thing about Newport is Newport. We underrate the great city we have. It is steeped in history. It’s a great location with amazing transport links. Being sandwiched between Cardiff and Bristol, we can benefit from a wide customer base and also benefit from increased supplier opportunities. Newport offers some great opportunities as it tries very hard to make a comeback. The city is open for business and embraces all weird and wonderful opportunities. The downside, sometimes, is the lack of support from larger companies which could encourage staff to shop local and use smaller restaurants, bars and shops.
Newport Council needs to step up. Don’t just put on Newport Food Festival once a year but provide regular street markets encouraging local independents to have the opportunity to trade and have a shop window, for example. It needs to re-focus on the city centre and our market area to increase footfall and to stop making everything about Friars Walk. While Friars Walk is an amazing attraction and makes Newport more of a destination, it still ultimately detracts people from walking up the high street. While I support both, we need to see greater planning of city centre events, promotions, concerts, free shows and live events.
TB: Have you noticed a change in the business climate of the city? LL&SK: It has definitely improved and is on the up. More people are spending locally again and there is greater footfall in general. However, we can all do more to encourage this and support the local independent economy.
TB: What do you think needs to be done to encourage more businesses to start up in Newport LL&SK: It would be great to see some regular workshops with local start-up businesses hosting each event sharing best practices, hardships and providing inspiration for others.
We are all quick to feel threatened by other similar businesses but if we all spoke more, we would realise how different we all are and how we could actually all work together in some way which would only boost the local economy.
I think the council should also spread the word in greater way of what funding, business start-up support and assistance is available as often there are things you don’t know about which could help especially in the early days.
Easy to get a seat?
Never had to stand but did once have to sit in the draughty lobby. During the summer you can sit outside and over look the park.
What did you eat?
Me: Deli classic chicken and chorizo wrap, £5.60, and chocolate milkshake. Boss: Brie and cranberry bagette, £4.60, and a pot of tea.
Why is it good? The quality of food is great and the portion sizes are perfect for lunch. It is my cafe of choice for lunch and I try to go there regularly.
Newport-based property auction house Paul Fosh Auctions has opened a new chapter of its business with the official opening of new offices in the heart of the city.
Paul Fosh Auctions has relocated from Church Road to a Grade II listed building in Lower Dock Street, in the historic and up-and-coming former docks area in the city of Newport.
Paul Fosh, owner of Paul Fosh Auctions, threw open the doors to the new office last week to showcase the completely renovated ground floor of the premises.
The move by Wales’ largest and most successful property auction business to the former Italian restaurant building, over three floors with connecting sweeping staircase, has been prompted by expansion and the need for more space.
Paul Fosh, owner and auctioneer of the business, recently opened new auction bases in Bristol to serve the west of England city and the south west and another in North Wales.
Paul, who first established Paul Fosh Auctions at offices in the Gold Tops area of the city, says there is plenty of room to expand at the former Bella Mammas, Gambarini’s restaurant
“We have so much more space compared to our former premises. It’s ideal for staff but also for clients visiting the office
“Our new, prestigious, Grade II listed premises offers a huge amount of space over three floors and a basement in which to expand. There is also parking.
“We will be able to house all our records, keep dead files currently stored elsewhere, on site, our existing and new staff and also to develop and grow new areas of the business, such as property management and property related gatherings.
“I believe that the Lower Dock Street area, a once very important part of the busy town linked to the Port of Newport but more recently a rather neglected part of the city of Newport, is up and coming.
“The new building we’ve acquired gives Paul Fosh Auctions a prominent new presence and stature reflecting our stature as a growing business which is proud of its roots in the city of Newport.”
There is even a watchtower on top of the building which, when the building was originally used as an immigration centre linked to the Port of Newport in the last century, would have been used as a look out for ships and boats entering the harbour.
Paul Fosh Auctions stages eight auction sales a year from its sales room at The Park Inn Hotel, Llanedyrn, Cardiff. It now also stages a similar amount of auctions each year in North Wales and in Bristol. The recently launched Paul Fosh Auction online offering will also be boosted by the expansion.
The next Paul Fosh Auction will be staged at The Park Inn Hotel, Llanedryn, Cardiff, on Thursday, February 8, starting at 5pm; the Bristol auction is at the same time on Tuesday, February 13 and in North Wales on Thursday, February 15.
FAST-expanding Gwent specialist insurance broker Quote Detective is on the trail of new recruits after revealing plans to boost its workforce by half by the end of the year.
Quote Detective, which currently employs 38 people at its head office at Mamhilad Park Estate, Pontypool, is looking to boost that number to nearer 65 by the end of this year.
Quote Detective chief executive David Harlow said: “Quote Detective is a phone based insurance business. We have plans to boost our workforce up to 50 by Easter 2018 and to 70 by this time next year.
“We have an immediate requirement for a dozen new staff to start immediately. We’ve negotiated terms with new insurers and improved terms with existing insurers which means that we are now even more competitive and therefore require additional staff to cope with this demand.
“The staff we have recruited for the business from the local pool have all been excellent. We’re now looking to repeat this process filling nine new sales positions and three customer service positions with candidates who have a good work ethic, determination and a positive attitude.”
Mr Harlow said Quote Detective is keen to spread itsrecruitment net as wide as possible in the local area by making working conditions as flexible and thus as attractive as they can.
“At a previous company I ran in Cwmbran I found that there were many workers, parents in particular, who were unable to commit to full-time hours but nevertheless wanted employment. We offered flexibility and found that the candidates we managed to attract to be of excellent quality. We offer full training and all our managers are promoted from within.
“Prospective Quote Detective employees need good work ethic, basic numeracy and bags of ambition.”
Sian Ralph-Pearce, aged 41, of Griffithstown, near Pontypool, has worked as head of service and quality at the firm since March 2017.
She said: “I’ve worked in the insurance industry since 2008. I started working as a customer service agent progressing to supervisor and then assistant CS manager. I progressed to complaints and cancellations manager, so I have a vast knowledge of different roles within the business.
“I enjoy and appreciate the opportunity that this job has provided me. And to also be able to work alongside directors with a wealth of knowledge and experience, that I both admire and respect. Under their guidance I hope to develop and progress my current skill set even further.
“We value our staff and encourage them to progress and become experts within their areas. Our aim is to create an environment where our staff feel valued, enjoy coming to work and feel rewarded for their efforts.
“We are looking for hardworking people with a can do attitude that enjoy helping others and enjoy working as part of team. A good telephone manner along with good communication skills are also key within this business.
“Any individuals with above attributes that are looking for the opportunity to develop and progress within the insurance industry should apply as they will thrive in this environment.”
Nathan Hewitt, aged 26, from Cwmbran, worked in insurance for five years before securing a position with Quote Detective last year.
“I worked at Insure Your Motor for four years where I learned all aspects of the company within the banking, administration, cancellations and sales departments. More recently I worked at First Utility; my role was to collect outstanding payments from customers.”
The former Fairwater High School, Cwmbran student said: “There are many opportunities here to progress. I started as a sales advisor and quickly progressed to team supervisor with hard work and dedication.
“I enjoy working here because it’s a company which believes in its values and its staff. This is a company which prides itself on going the extra mile for the customer and providing an excellent customer journey. I’m proud to be part of what we’re building here.
“I work on a rota basis and I’m given my hours in advance, I’m usually putting in extra hours to continue to help push the company forward, however Quote Detective has always helped if I have needed to change my hours or have time off to spend with my young daughter.”
The insurance broker outgrew its premises at Cwmbran’s Springboard Innovation Centre and is now established in 4,000 sq ft of space at Johnsey Estates-owned Mamhilad Park Estate with an eye to securing more onsite office space.
It is owned by Next Risk solutions Ltd. The business works with leading businesses in the world of insurance broking and online quote comparison sites.
TESCO is going bananas in its support for St David’s Hospice Care and the Admiral City of Newport Half Marathon.
The UK supermarket’s Tesco Extra store in Risca is donating boxes of the energy giving fruit as well as crates of oranges for competitors competing in the 13.1 mile event on Sunday, March 4.
Tesco Risca store manager Simon Davies, from Tredegar, took part in the Admiral City of Newport Half Marathon last year as preparation for the grueling London Marathon.
Simon said: “The Newport Half Marathon is brilliant and a hugely enjoyable event. It was a perfect training event for the London Marathon.
I’m delighted to once more be able to show our support and backing for this year’s Newport Half by providing bananas and oranges for runners at the finish of the event.”
Christine Vorres, of St David’s Hospice Care and organiser of the Admiral City of Newport Half Marathon 2018, said: “We are very pleased that Tesco Extra in Risca are once more involved with Admiral City of Newport Half Marathon and will be providing fruit which is always gratefully received by our runners on the day.”
The Admiral City of Newport is 70 per cent full and organisers are encouraging more to enter to make 2018 a record year with more than 2,500 runner.
GWENT financial services business Kymin which is continuing its support for St David’s Hospice Care by backing the Admiral City of Newport Half Marathon 2018 is urging others to follow its lead.
The Newport headquartered business, which has volunteered support for the 13.1 mile event since its inception, is a sponsor of one of the four water stations this year.
Kymin will be based at Blaina Wharf, near the SDR Bridge, at mile 12 of the Admiral City of Newport Half Marathon 2017.
Robin Hall, Managing Director of the Bridge Street, Newport, business will operate the water station along with other Kymin staff and volunteers on the day.
Robin said: “The Admiral City of Newport Half Marathon is such a marvellous event not just for St David’s Hospice Care but for the city of Newport as a whole.
It’s such a great advertisement for everything that is good about the city and we were delighted not just to offer our backing as sponsors when approached but to once more roll up our sleeves and get involved.
We’re now urging other Gwent businesses to follow our lead and support the event.”
Kymin are strong supporters of St David’s Hospice Care having taken part, and backed numerous events in recent years.
The financial services business has supported the Three Peaks of Wales, have been shirt sponsors of the Tour de Gwent, scaled Pen Y Fan on the Moon Walk
and had a raft in the annual River Wye Monmouth Raft Race.
Christine Vorres, organiser of the Admiral City of Newport Half Marathon 2018, said: “We are very pleased that Kymin are once more involved with Admiral City of Newport Half Marathon and have sponsored a water station.”
A south Wales valley, mid terraced three bedroom house is on the market with Paul Fosh Auctions at an astonishing reserve price of just £1.
The tidy looking property requires some upgrading but with new UPVC double glazed windows and gas central heating the house appears to be a real steal.
Listed as being situated in a side street popular with homeowners and investors 10 Francis Street in the former south Wales Rhondda Valley mining village of Tonypandy is arguably the cheapest house for sale anywhere in the UK.
Requiring some renovation the freehold property which until recently was let at £425 a month has a downstairs bathroom and a back garden with rear lane access.
Paul Fosh, Managing Director of Newport-based Paul Fosh Auctions, who is selling the property said: “People looking at our catalogue may well think that the £1 reserve is a typo but it’s not. If someone bids £1 and there are no others bidding then the property is theirs. The property, which seems all up together, at this price, could well be a shrewd investment for renovation and buy to let.
“The property, which is being sold with vacant possession, has already benefited from some renovation and now requires further modernisation and finishing works. It is situated in a well established residential location in the town of Tonypandy which has easy access to a range of amenities and good transport links including a train station.
“We’re expecting to have a lot of interest in the property which, with a reserve price of just £1, must be the cheapest house currently on the market anywhere in Britain.
“Perhaps it could make the ideal Christmas present for that difficult to buy for someone?”
“We’ve set the reserve price on instruction from the vendor who just wants a quick sale. Ultimately it’ll be the auction floor and those that attend the sale or put in bids over the telephone who’ll decide what this property is worth, taking everything, including renovation costs into consideration.”
The team to head up the city of Newport’s newest restaurant, Sixteen, has been revealed
Sixteen at 16 High Street, will officially open on Thursday, November 16.
The team at the helm of Sixteen, led by owners Niche Hospitality’s Lewis Lewis and Seng Koh, are executive head chef Sam Lewis; aged 24, from Cwmbran but recently at Bovey Castle, Devon; head bartender and mixologist, Joel Gerre, restaurant duty manager, Jennifer Chorley and business development manager, Indy Sidhu.
Niche Hospitality, which already owns two establishments on the city’s Clarence Place, is now adding the eagerly-awaited steak and chicken restaurant, Sixteen, to its collection.
Newport-based Niche Hospitality also successfully operates critically-acclaimed fine-dining cocktails restaurant Mojo the FoodBar and the Riverside Bar and Kitchen.
Niche Hospitality co-owners Lewis Lewis and Seng Koh, said: “It’s been hard work and very long hours from the entire Niche team to get Sixteen ready to open but we’re thrilled that we’re now just about there and also that we have a first class team of professionals in place and ready to go.”
Lewis and Seng say the Sixteen menu will centre on first class steak sourced from around the world including from Argentina and Wales as well as supreme quality chicken.
“All the food is fresh and prepared in house for convivial sharing. Paired with seasonal starters and gorgeous puddings Sixteen is ready to give a real boost to the independent restaurant scene in the city.”
Sixteen is close to the city’s historic provisions market, just over the road from Slipping Jimmy’s live music place and The Murenger pub and up from Tiny Rebel.
The new restaurant will also offer a wide selection of spirits, a range of sixteen whiskies and bourbons, wines and cocktails from around the world and stage live music.
A new Costa Coffee Drive Thru creating 20 jobs has opened at Llanfoist, near Abergavenny, adding another piece to the overall Westgate development jigsaw.
Landowners, Pontypool-based Johnsey Estates, let the contract to build the drive thru at the site on Merthyr Road, to Carter Lauren.
Johnsey Estates has retained ownership of the drive thru, which it has leased to Costa Coffee.
Westgate is also home to a 61-room Premier Inn and the Brewer’s Fayre restaurant, both built by Carter Lauren, which have created 60 new jobs and represent a £6.4m investment by Whitbread.
James Crawford, CEO of Johnsey Estates, said: “The opening of the Costa Coffee Drive Thru marks the completion of the latest part of our development jigsaw at Westgate.
“The hotel, restaurant and Costa Coffee Drive Thru are delivering much needed investment, jobs and new facilities to Abergavenny at this important location on the A465 Heads of the Valleys trunk road.
“Johnsey Estates has built the drive thru unit which is being let to Costa Coffee who will run the operation themselves and pay us a rent. We then expect to retain the completed investment rather than sell to add to our income generating property portfolio.”
Johnsey Estates recently concluded the sale of a 1.48 acre (0.60 hectares) development site at Westgate to South Wales-based specialist care home business Castleoak Care Developments for the development of a 70-bed care home, which will create up to 100 full and part-time jobs.
The care home, to be built on a plot of previously undeveloped land on the western edge of the site overlooked by the Blorenge, is set to be operated by Wales-based Dormy Care Communities.
James Crawford said Johnsey Estates is now turning its attention to bringing forward the remaining plots of land at the Westgate site for development. The property firm says it is in the market at present and is in discussion with complementary occupiers for the remaining sites in particular the central portion of the site.
The total area of the Westgate development site is 12 acres (4.87 hectares) of net developable land. The Premier Inn hotel, Costa Coffee restaurant and Drive Thru scheme takes up a portion of the land and is adjacent to the McDonald’s drive thru, which opened at the end of last year creating 65 new jobs.
Tom Swords, Costa Coffee Drive Thru acquisitions manager, said: “The location for the new drive thru is very prominently positioned on the Heads of the Valleys road, with good access and visibility to traffic in all directions. It also benefits as the main route into Abergavenny for traffic.”
Johnsey Estates is the developer behind the over all scheme at Westgate, Abergavenny. The company sold three acres of land to Persimmon Homes and, after completing the infrastructure on the site, concluded the sales of other plots of land in line with the planning consents granted for the Premier Inn hotel, Brewer’s Fayre restaurant, the Costa Coffee Drive Thru and Castleoak care home scheme.
Premier Inn, Brewer’s Fayre and Costa Coffee are all part of Whitbread.