Fusion Three - New Development Project Rightacres

New development project for the company behind Wales' most ambitious regeneration scheme Central Square

Rightacres has acquired the Fusion 3 site in the centre of Cardiff, which has planning consent for a 44,000 sq ft office scheme

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Aerial image showing the Fusion Point site acquired by Rightacres

It is the company behind one of the most ambitious regeneration projects ever seen in Wales, but now Rightacres Property has unveiled plans for another development.

The Cardiff-based developer behind the Central Square project in the centre of Cardiff, which will eventually see up to one million sq ft of new office residential and retail space built, has acquired a development site at the nearby Fusion Point scheme.

Having developed 60,000 sq ft of offices in Dumballs Road, Cardiff, Fusion Point Development has sold the last one acre plot to local developer Rightacres for £1.5m.

The site, known as Fusion 3, is currently in use as a car park and has planning permission for 44,000sq ft of offices.

Related content: Work starts on new £120m BBC Wales HQ at Central Square

It is located immediately adjacent to Fusion 2, the 60,000sq ft office building developed by Fusion Point Development, a joint venture between Robert Hitchins and Landmark Cardiff.

Property and development director for Gloucestershire-based Robert Hitchins, Simon Tothill said: “It was the right time to sell Fusion 3.

“We have a significant investment portfolio in South Wales and we constantly review ways in which we can alter the balance to reinvest.

Related content: Fusion Point 2 acquired in a £11.2m deal

“The market is good and there’s significant demand. There’s also growing confidence from investors who are buying into the vision of Cardiff’s growth potential.

"We aim to remain a major player in this expansion and continue to seek ways to reinvest cash released from sales in Cardiff and throughout South Wales.”

Related content : Office lettings in Cardiff at a four year high

Knight Frank acted on behalf of Fusion Point Development.

Matthew Philips of Knight Frank
Managing Partner of Knight Frank’s Cardiff office, Matt Phillips said: “Fusion Point sits within the Welsh Government’s Enterprise Zone and has also recently benefited from the opening of the new Cardiff and Vale College campus.

"This represents a further development opportunity in the city for the purchasers.”

http://www.walesonline.co.uk/business/c ... d-10823208

Intresting! I'm sure rightacres know what is actually going to happen in the Dumballs Road area, we'll have to keep an eye out for what they are planning for that reasonably sized plot - hopefully not a carbon copy of its neighbour.

Not sure if anyone had posted this, but the next phase of Fusion Point went in for planning just before Christmas:
http://planning.cardiff.gov.uk/online-a ... APR_114810

More information on the wider scheme here:
http://www.fusion-point.co.uk/fusion-point.php

From the other forum.

General design is fairly similar it must be said. But it fronts the street directly with no out front parking which is an improvement. Probably a good idea not to be something too different given they will directly abutt.

I'm not sure why a carbon copy, or something close, should be a problem. If it was a good quality well designed piece why not do something similar again? Cardiff city centre has a wide range of buildings dating back 100 or more years. I don't think we need to worry about conformity!

Personally I'd like to see Callaghan Sq finished first but that seems very quiet right now. Also, wouldn't it be good to get some more food and retail units down there? I know British Gas have a decent cafeteria but you'd have thought they'd be a need for a few cafes etc.

You would. In London, there are huge numbers of places catering to the office lunch crowd. I think in Cardiff people are more likely to make do with popping to the supermarket or stuff brought in from home. Makes financial sense - the amount I spent on lunch is ridiculous! But does mean you get somewhat souless office districts.

Rightacres' name is also on a couple of demolition notices that have gone up on the disused two storey unit opposite Fusion 3, other side of Dumballs Rd. They have an increasing number of sites down there... meanwhile it's all gone v quiet on the Bellerophon front.

Also, wouldn't it be good to get some more food and retail units down there? I know British Gas have a decent cafeteria but you'd have thought they'd be a need for a few cafes etc.

There are a couple of shops and cafes in the Cardiff and Vale College development. They're what you'd expect - a Subway, a coffee shop etc. They seem to be doing pretty well with the office crowd as well as students.