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Charles Street Mixed Use Development with Tower

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LocalLurker

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Re: Charles Street Mixed Use Development with Tower

PostThu Dec 17, 2015 9:11 pm

I've answered my own question, it does cover the empty plot. Here's the Churchill Way elevation, looks pretty good :!:

Image
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neukreuz

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Re: Charles Street Mixed Use Development with Tower

PostThu Dec 17, 2015 9:22 pm

LocalLurker wrote:
Also for reference, is Herbert Street a separate development from John Street or another name for it? :oops:


If you're referring to the 23-floor apartment tower, I believe John Street is just another name for it. :D

The Charles St tower isn't a bad building at all. It's slim and attractive.

What I like most is the impact it'll have on that cluster of mid-rises which tend to form into one large mass when seen from the west and east; this tower will hopefully add a focal point to the skyline for that area, as the rendering of the view from Rumney Hill shows. When the other four-to-six mid-to-high-rises are built (if they're built, and I'm reasonably hopeful that at least two or three will be), Cardiff will have a nifty little skyline, and a very good one for a mid-sized British city.

Also, don't forget that the lower-rise buildings at Central Square, Capital Quarter and possibly Callaghan Square and the Dumballs Road site will add yet more density.
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Cen

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Re: Charles Street Mixed Use Development with Tower

PostThu Dec 17, 2015 9:35 pm

Actually I think John Street is a separate development. It's the plot of land where No Fit State circus is currently (across the train track from the Herbert Street development). It's still owned by JR Smart and is earmarked for around 250,000 sq ft of new development. Hopefully there'll be a lot of cranes going up in the centre soon!
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Rhodri

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Re: Charles Street Mixed Use Development with Tower

PostThu Dec 17, 2015 9:39 pm

If this, the Watkin Jones tower gets built by Radisson & JR Smart build their 20+ tower then we should all meet for a few beers from the top floor of the Bay MSCP - that doesn't sound too dodgy at all!!!

When Sports Village is completed then another sesh should be planned for Paget Street in Penarth!
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Kyle

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Re: Charles Street Mixed Use Development with Tower

PostFri Dec 18, 2015 8:57 am

Cen wrote:Actually I think John Street is a separate development. It's the plot of land where No Fit State circus is currently (across the train track from the Herbert Street development). It's still owned by JR Smart and is earmarked for around 250,000 sq ft of new development. Hopefully there'll be a lot of cranes going up in the centre soon!


You are correct. Herbert Street is JR Smart's apartment tower development on the plot of land between the bay railway line and the dock feeder canal right next to the Captial Quarter development. John Street at Callaghan Square is exactly what you've described, the land the other side of the same bay line where No Fit State are currently. We should see plans for that in the new year.

One thing to remember as well tower wise is that next to the Herbert Street tower we'll get another as part of Captial Quarter at one of the remaining plots at some point in the future. I think that one is earmarked for a hotel and you can see it in all the promotional images on J R Smart's website. The difference with that one is I can't see it happening for a few years as the John Street, Herbert Street and Number 3 Capital Quarter all seem to be higher up priority wise.
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Zach

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Re: Charles Street Mixed Use Development with Tower

PostSat Dec 19, 2015 5:44 pm

Just read the covering letter.
Please find enclosed application fee to Cardiff Council of £92,340 :o

Does this latest city centre student high rise building bonanza remind anyone of other financial bubbles?

Jantra

Re: Charles Street Mixed Use Development with Tower

PostSun Dec 20, 2015 10:28 am

I've certainly thought of that zach. But I think this is slightly different than your usual property bubble. The student market they are aiming for are the rich foreign students whose parents are likely to be able to withstand any economic downturn.
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RandomComment

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Re: Charles Street Mixed Use Development with Tower

PostSun Dec 20, 2015 3:31 pm

Its not a bubble in the usual sense, where the value of an asset gets out of proportion to its fundamentals. Student accommodation is going up at a fair pace, but the asset values aren't really that inflated. Indeed, yields on student accommodation of 7 - 8% are really pretty healthy. Much more than you get in the private residential sector. And more than you typically get on prime offices and prime retail too. Its those healthy yields, rather than speculation on property values, that is driving the surge in student accommodation construction.

I think there are a couple of risks - but these are more "structural" rather than driven by the dynamics of the market:
1) Is that if student participation rates stop increasing, the lull in birth rates around 1999 to 2004 will mean we could see falls in student numbers not long after all these new rooms are looking to be filled. That demographically driven change could cause problems.
2) Is that if we keep making it less attractive for international students to come here, we might see falls in their numbers. If we left the EU, higher fees for EU students... and Theresa May's crusade to damage one of our big 'export' earners.. are both factors here. As is the growing competition from universities in places like Netherlands and Germany who are increasingly offering English-language courses at undergrad as well as postgrad level.
3) If students and/or their parents turn against the 'managed student property' sector. It's grown in popularity because it takes much of the hassle and risk off students - no missed utility bills, greater security, better maintenance. But you pay a big premium for that. Might students get more adventurous again? Might the government take action to improve standards in the private rental sector? May the growing role of institutional investors in that sector (esp. following the stamp duty changes) drive up standards?

On this particular development they seem to have thought through what might happen if the sector did go into decline - they have produced plans that show how it could be converted to private sector and/or social sector residential. Its always a good idea to future proof in that way.
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Rhodri

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Re: Charles Street Mixed Use Development with Tower

PostMon Jan 04, 2016 8:48 pm

Adding nothing new, this may still be of interest. Dated 22nd December 2015.

http://www.insidermedia.com/insider/wal ... or-cardiff
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Peiriannydd

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Re: Charles Street Mixed Use Development with Tower

PostWed Jan 06, 2016 12:06 am

A few more CGIs of the proposed tower found at the link below:
http://www.walesonline.co.uk/lifestyle/ ... y-10683079
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