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Cardiff Retail

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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Simon__200

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Re: Cardiff Retail

PostThu Nov 21, 2019 7:54 pm

Karl wrote:I'm not sure why we are surprised at this? Can anyone remember any sort of work going on at Howells in the last 30 years? I also think it won't come as that much of a surprise to the owners who surely would have been aware of many of the problems through a reasonably thorough survey?


Whole store had an entire refurb about the same time that John Lewis opened. Why weren't these issues spotted then? Sounds fishy.
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Karl

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Re: Cardiff Retail

PostFri Nov 22, 2019 9:59 am

Obviously it must have been a cosmetic makeover only. I'm not sure it sounds that fishy - the purchaser would surely have not handed over £30m plus without a full understanding that buildings of this age will have issues with electrics, plumbing, asbestos, upkeep etc. If not they are either very naive or have been very poorly advised. I still think a conversion to offices, gym, apartments, hotel, modern retail and A3 uses etc would involve a complete re-configuration so quite a lot of the work referred to in the article would have to be carried out in any event.
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RandomComment

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Re: Cardiff Retail

PostTue Dec 03, 2019 7:28 pm

https://www.business-live.co.uk/commercial-property/historic-howells-building-centre-cardiff-17356322

Howells building up for sale as the equity and debt investors decide to bail. Suggests they think the value of the redeveloped plot won't cover the costs of the works - or at least its not worth the risk of sticking around to find out.

It'd be interesting to find out whether this is coming mainly from the debt investors, or whether the equity investors want to pull the plug to. If its just the debt ones, they might want to run now because they hope to get their investment back (they are first in line for any money from a sale), and don't mind the equity investors losing their shirts.

But if the equity investors have also wanted to bail out now, thats really worrying. That would suggest its fundamentally economically unviable to repurpose the building - at least without some sort of public subsidy.
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RandomComment

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Re: Cardiff Retail

PostFri Dec 06, 2019 3:22 pm

https://planningonline.cardiff.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=_CARDIFF_DCAPR_129294

Queen Street is to be home to a British Heart Foundation charity shop. I think this might be the former Clintons near W H Smiths.

Now I don't have anything against charity shops, but its a bit worrying when they are getting on what should be the prime pitch on one of the main shopping streets in Cardiff. Rents must have really tumbled - although the 80% discount on rates bills charity shops get will also help too.
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Ash

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Re: Cardiff Retail

PostFri Dec 06, 2019 10:11 pm

There's more than one issue here.

Partly it's the UK wide trend of the decline of the High Street but there's also the pendulum effect you have in Cardiff between Queen Street and the Hayes. Prior to SD2, Queen Street was, without doubt, the prime shopping street with the Hayes housing the department stores and specialist retailers like Halfords, Spillers and the rest. Those roles have now switched. It's not the first time it's happened.

I suspect St Mary Street is also due a rebirth given the number of office workers relocating to Central Square and Capital Quarter.
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