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New tower of glass opposit the golden cross

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Ash

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Re: New tower of glass opposit the golden cross

PostSat Feb 23, 2019 1:41 pm

I'm not giving up on this one just yet! I think it might be a postponment rather than a cancelation. Watkin Jones certainly seemed bullish about the sector in this piece last month.

"New chief executive Richard Simpson, who replaces retired Mark Watkin Jones, said the prospects for both student accommodation and the build to rent sector remained robust.

Simpson said: “We continue to have excellent visibility of our future revenues and earnings, supported by the pipeline of forward sold and secured sites for student accommodation.”

In the core student accommodation sector, Watkin Jones boasts a total secured development pipeline of 7,534 student beds across 17 sites, for delivery between 2019 and 2021.

This represents a development value of £650m."

http://www.constructionenquirer.com/2019/01/15/watkin-jones-hits-record-profits-as-pipeline-grows/
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Lewisbeecham

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Re: New tower of glass opposit the golden cross

PostSun Feb 24, 2019 5:08 pm

They have until 2021 to start construction or they lose the planning permission. I wasn't aware that Watkins Jones' were in the business of built to rent, I definitely think that's a better approach for this scheme. Surely more profitable? I'm sure they could charge, and achieve, inflated prices for those top floor apartments. That's assuming they'll be the tallest in Wales still without amending the height. Not to mention the skybar at the top. Perhaps this explains the return of the footpath, they need to submit planning all over again?

Is it normal to completely remove fences if a scheme has fallen through?
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Ash

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Re: New tower of glass opposit the golden cross

PostMon Feb 25, 2019 6:36 pm

Lewisbeecham wrote:They have until 2021 to start construction or they lose the planning permission. I wasn't aware that Watkins Jones' were in the business of built to rent, I definitely think that's a better approach for this scheme. Surely more profitable? I'm sure they could charge, and achieve, inflated prices for those top floor apartments. That's assuming they'll be the tallest in Wales still without amending the height. Not to mention the skybar at the top. Perhaps this explains the return of the footpath, they need to submit planning all over again?

Is it normal to completely remove fences if a scheme has fallen through?


I suspect the fences pretty much had to come down either way. You can't block footpaths for long periods if no activity is taking place. I think you may well be right that the developers are considering switching from student accomodation to BTR. If that's the case, they'll need to revisit the planning process to address issues around parking etc.
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Lewisbeecham

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Re: New tower of glass opposit the golden cross

PostMon Feb 25, 2019 6:52 pm

Ash wrote:
Lewisbeecham wrote:They have until 2021 to start construction or they lose the planning permission. I wasn't aware that Watkins Jones' were in the business of built to rent, I definitely think that's a better approach for this scheme. Surely more profitable? I'm sure they could charge, and achieve, inflated prices for those top floor apartments. That's assuming they'll be the tallest in Wales still without amending the height. Not to mention the skybar at the top. Perhaps this explains the return of the footpath, they need to submit planning all over again?

Is it normal to completely remove fences if a scheme has fallen through?


I suspect the fences pretty much had to come down either way. You can't block footpaths for long periods if no activity is taking place. I think you may well be right that the developers are considering switching from student accomodation to BTR. If that's the case, they'll need to revisit the planning process to address issues around parking etc.


The BTR scheme on Dumballs Road and Capital Quarter have no parking, just some disabled bays. This scheme had 2 disabled bays? Maybe 3?
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Lewisbeecham

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Re: New tower of glass opposit the golden cross

PostTue Aug 20, 2019 11:43 am

June 15th last year I tweeted Watkin Jones asking about the future of this development and weirdly they responded TODAY with "Custom House represents a significant development in a prime location and Cardiff remains a vibrant and attractive student city and destination. We are currently undertaking routine due diligence and options analysis prior to formalising and finalising plans for the site"

Looks like it could resurface soon with a scaled down planning application? Change of use?
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paul cardiffwalesmap

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Re: New tower of glass opposit the golden cross

PostTue Aug 20, 2019 3:59 pm

Lewisbeecham wrote:June 15th last year I tweeted Watkin Jones asking about the future of this development and weirdly they responded TODAY with "Custom House represents a significant development in a prime location and Cardiff remains a vibrant and attractive student city and destination. We are currently undertaking routine due diligence and options analysis prior to formalising and finalising plans for the site"

Looks like it could resurface soon with a scaled down planning application? Change of use?


That's interesting that they should suddenly reply? It would be great to have some kind of update on plans for this site - it's hard to imagine that it'll be student accommodation now with so many others complete or underway. The only other way it's likely to remain a tower of the height planned is a Build to Rent scheme? oh well, maybe we'll hear more soon. Of course if anyone is 'in the know' and want to chuck a few clues to us here - please do!!
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Peiriannydd

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Re: New tower of glass opposit the golden cross

PostTue Aug 20, 2019 10:21 pm

paul cardiffwalesmap wrote:That's interesting that they should suddenly reply? It would be great to have some kind of update on plans for this site - it's hard to imagine that it'll be student accommodation now with so many others complete or underway. The only other way it's likely to remain a tower of the height planned is a Build to Rent scheme? oh well, maybe we'll hear more soon. Of course if anyone is 'in the know' and want to chuck a few clues to us here - please do!!


The idea was to build a PRS rather than a student accomodation scheme, but I don't think the numbers ever stacked up. That, and I don't know how many people in Cardiff would take something on with no possibility of having a car. Most new developments have some parking, even if it is at a premium, but there's no chance of fitting anything on that site.
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Kyle

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Re: New tower of glass opposit the golden cross

PostWed Aug 21, 2019 7:11 am

There's the Hope street road out on to Callaghan Square, can't that handle a private road in and out for residents? Maybe not wide enough? And what about a podium of say 4 or 5 floors of parking and just have apartments above it? It's what happens out here in Dubai for 90% of towers and works relatively well.
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elgdav

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Re: New tower of glass opposit the golden cross

PostWed Aug 21, 2019 9:16 am

Don't think you'd get many cars per floor on that plot once you factor in the ramps and the building core.
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Philnpt

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Re: New tower of glass opposit the golden cross

PostWed Aug 21, 2019 10:01 am

Lewisbeecham wrote:June 15th last year I tweeted Watkin Jones asking about the future of this development and weirdly they responded TODAY with "Custom House represents a significant development in a prime location and Cardiff remains a vibrant and attractive student city and destination. We are currently undertaking routine due diligence and options analysis prior to formalising and finalising plans for the site"

Looks like it could resurface soon with a scaled down planning application? Change of use?


Reading between the lines it sounds as though it’s going to be student accommodation, maybe a bit shorter to make it more viable
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