Cardiff planners are considering an application to build a 135,000sq ft office development as the first phase of an ambitious mixed use regeneration project for the city’s Capital Square.
The £30m building — to be called One Capital Square — would be the biggest ever speculative office development in the Welsh capital. If approved the company behind the scheme, Rightacres Property, says work could start as early as June with the first tenants moving in by the end of next year.
The block is part of Rightacres’ master plan for the entire Capital Square area, north of Cardiff train station, and which would ultimately offer more than a million square feet of office space, residential apartments and restaurant and leisure units.
Rightacres is working closely with the city council and Design Commission for Wales on the regeneration project and is expected to unveil full details next month. It has already confirmed any large scale development would include a transport hub with a new integrated bus and rail station. A number of leading residential developers and a hotel operator have already voiced their interest.
Cardiff-based architect Rio has been commissioned to design One Capital Square, which will have an average floor plate of 16,000sq ft. The developer is already in discussion with its first potential tenant which could occupy as much 60,000sq ft of the first phase building.
The overall Capital Square scheme is being drawn up by one of the world’s leading architects, Sir Norman Foster & Partners, working in co-operation with Cardiff City Council.
“We are looking forward to realising Capital Square’s potential by transforming one of Wales’ most important urban regeneration sites into a premier business destination,” said the authority’s chief executive Paul McCarthy.
“This is a real public private sector partnership and this collaborative process will produce very rewarding results by transforming this important gateway into a development that in size, scale, quality and style will be of international stature.”
Alan Francis is chair of the Design Commission for Wales. “Although at an early stage, the approach so far is ambitious and of very high quality with the potential to make a valuable contribution to the city, for residents, the commercial sector and visitors,” he said. “We are particularly supportive of the design approach which is one that could and should set a high quality benchmark in the city.”
Property consultants DTZ is also advising on the scheme. “One Capital Square is already capturing the interest and attention of the business community in Cardiff,” said its senior director, Rhys James. “It will have an unrivalled location and the profile of the building will be immense. To the millions of people who pass through the centre of Cardiff year on year for their business, pleasure and retailing pursuits, One Capital Square will be unavoidable.”
A rejuvenated Capital Square has already been short listed as one of three locations for a proposed 150,000sq ft headquarters for BBC Cymru Wales. A final decision is expected in the spring, with other short listed locations at a Network Rail owned site south of Cardiff train station and a yet to be developed parcel of land between the Senedd and the UK headquarters of Atradius in Cardiff Bay and which forms part of Aviva’s Cardiff Waterside scheme.
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