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Central Square

if it's about Cardiff.. Sport, Entertainment, Transportation, Business, Development Projects, Leisure, Eating, Drinking, Nightlife, Shopping, Train Spotting! etc.. then we want it here!
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Philnpt

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Re: Central Square

PostFri Mar 24, 2017 4:44 pm

the HMRC building is going to be called number 3 central square and its going to be 300,000sqft
http://www.propertyweek.com/insight/mar ... 67.article
I haven't read the whole article as I'm not registered to property week, any body on here that can read it and give us a bit more info???
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Mr Blue Sky

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Re: Central Square

PostFri Mar 24, 2017 5:42 pm

It is an interesting article which serves to emphasise the high level of demand for Grade A office space in Cardiff. There's no real news on the HMRC building but quite a bit of detail on other schemes.

Here is less than 50%

"Elsewhere, occupiers with requirements for new offices will have to move swiftly if they are to secure space in the 75,000 sq ft 3 Capital Quarter. The city’s latest speculative development - by another family company, JR Smart - is soon to reach practical completion and Matt Phillips, the partner in charge of Knight Frank’s Cardiff office, says there is already interest from three prospective tenants each wanting either 35,000 sq ft or 40,000 sq ft.

"JR Smart is developing Capital Quarter on a former industrial estate in the city centre and the development will ultimately include four office buildings.

"The Welsh government bought the first, enabling JR Smart to continue the project. It sold the 80,000 sq ft office for £20m last year and Phillips anticipates the second building of 82,000 sq ft will sell for £23m.

"There is no start date for the fourth building at Capital Quarter, but if it goes ahead it will be the largest development on the site.

"Significant refurbishment

"In the meantime, Cardiff has its first Creative Quarter, thanks to Helical. Having converted the David Morgan department store in the city centre into shops more than a decade ago, the London-based developer has since converted the space above the adjoining arcade into 33 office suites.

"Within 18 months, 20 of the units, totalling 8,500 sq ft, have been let on three - or five-year leases, and a further six suites are under offer through Knight Frank and Ashdown Phillips.

"There are also significant refurbishment projects under way in the Welsh capital. Two Kingsway, the former office of the Welsh Development Agency, has just been brought to the market after refurbishment by London-based Ardstone Capital.

"Jennie Howells, a surveyor at JLL who is agent on the development, says that Ardstone is hoping for a single tenant, or at least to let on a floor-by-floor basis, and is quoting a rent of £24/sq ft.

"Elsewhere, Schroders, advised by Savills, spent £1m on the refurbishment of Haywood House and Dumfries Place and has attracted Slater and Gordon as a tenant. The law firm has taken a 10-year lease with a five-year break at £18/sq ft - a third higher than the pre-refurb rents.

"Unfortunately, despite the level of refurbishment and development activity, there is unlikely to be enough office space to satisfy demand, not least because two of the sites that were under consideration by the GPU have now been changed to other uses.

"Following the GPU’s rejection of a Welsh government-owned site in Callaghan Square in favour of Central Square, it was confirmed that the city council, Cardiff Metropolitan University and Chinese company Phoenix Satellite Television Holdings would develop the university’s media and communications campus on the site.

"The other rejected site is Cardiff Bay’s 3 Assembly Square, which owner Aviva Investors, advised by Knight Frank, now intends to use for a Premier Inn hotel."
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Philnpt

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Re: Central Square

PostFri Mar 24, 2017 6:00 pm

Not what I was hoping for but still an interesting read, thanks mr blue sky
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RandomComment

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Re: Central Square

PostFri Mar 24, 2017 6:10 pm

I think the article has a few errors too.

It refers to Two Central Square being "completed", when it is under construction. And gets sizes mixed up, initially suggesting that 35,000 sq feet of a 135,000 square foot building remains available, before saying Cardiff School of Journalism is taking up 45,000 square feet in the building.

I think the BBC HQ is also officially Three Central Square, which would make sense given the clock-wise ordering. I would have thought the siting of the HMRC building means it will be called something like "One Wood Place" or "One Park Street".
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Kyle

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Re: Central Square

PostFri Mar 24, 2017 6:51 pm

A couple of non-Central Square things stood out for me.

The first relating to interest Capital Quarter explains why they have started nunber 4 while only a part way through number 3. It might also explain them now considering an office for the remaining plot.

The other thing is the reference to Callaghan Square south being taken by Cardiff Met for their new campus in partnership with a Chinese organisation. Although similar it's a bit at odds with ehat we read in the press the other day.

The media focused nature of the campus mentioned in propertyweek and in a story some months ago is a bit different to the more IT focused development metioned here

http://www.walesonline.co.uk/business/business-news/cardiff-metropolitan-university-reveal-new-12717103.amp

That's unless it's for more than one faculty that is!
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Frank

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Re: Central Square

PostSat Mar 25, 2017 5:48 pm

Perhaps Cardiff met could be the answer for that site. I do find the distinct lack of retailers down there a little odd. I can only assume Zurich, British Gas, Lloyds etc have excellent eating facilities.

Worth bearing in mind you also have the school there to fit in with - I can't believe a wasteland like that is a great look - and the College just south would be a suitable neighbour. If only something would happen with Dumballs Road.......
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Peiriannydd

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Re: Central Square

PostMon Mar 27, 2017 8:29 pm

Article on the construction of the BBC building for those who are interested:

http://www.newsteelconstruction.com/wp/bbc-design-show/
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jonbvn

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Re: Central Square

PostTue Mar 28, 2017 10:45 am

Peiriannydd wrote:Article on the construction of the BBC building for those who are interested:

http://www.newsteelconstruction.com/wp/bbc-design-show/


Sounds like a big deal for a layman. However, as a structural engineer working in the offshore O&G industry, it is hardly cutting edge. :lol:
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moyceyyy

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Re: Central Square

PostSun Apr 02, 2017 11:30 am

So, its past the end of March, any details on this new HMRC building?
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Kyle

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Re: Central Square

PostSun Apr 02, 2017 4:35 pm

Still waiting on the GPU to get their act together.

It's the government, why would they do anything quickly?
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