ONE of the fastest-growing construction and property companies in South Wales will be moving into a prestige Newport business park as its local base.

Midas South Wales, the Welsh arm of the complete property services group Midas, is not only building the new £2.5m headquarters on behalf of clients Acorn Recruitment at the Cleppa 4 park near Duffryn, but will also take 4,000 sq ft of space for its own offices in the newly completed building.

The move comes in response to its rapid expansion, which has seen it achieve a turnover of £35 million from a standing start just three years ago. The company now employs 44 and is currently carrying out more than £25 million of contracts across Gwent for national customers such as Marks & Spencer and Invicta Leisure and the Welsh Development Agency.

It has also been working on behalf of Prudential at its Cwmbran Shopping Centre for three years.

Its latest contract is the £2.4 million Ebbw Vale Innovation Centre being built on behalf of UK Steel Enterprise as a workshop for businesses, and the £1.5m refurbishment of Springvale Retail Park on behalf of Asda properties.

South Wales Midas director Darryn Parry said the company's local knowledge, the economy and local suppliers and sub-contractors meant it was ideally positioned to provide an excellent local service employing local labour.

A former Royal Engineer, Mr Parry set up Midas Welsh operation three years ago with just two staff.

Midas played a major role in getting Cardiff's Millennium Stadium finished in time for the World Cup on a £5.2 million fit-out contract.