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Central quay

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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Lewisbeecham

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Re: Central quay

PostSun Feb 25, 2018 4:50 pm

Wasn't there talk before of Companies House moving into town? That wouldn't surprise me at all.
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Msmurf

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Re: Central quay

PostSun Feb 25, 2018 5:00 pm

The only thing that makes me nervous on this is that I was involved in the original construction of Canary Wharf....hugely ambitious at the time..and which went bust because they overstretched at the wrong time. I hope Rightacres know what they are doing because I love the concept and the vision!
Build it and they will come.
Get it wrong and they will fall off.
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amp

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Re: Central quay

PostSun Feb 25, 2018 11:58 pm

Right I feel like a list. A list of possible companies taking offices in town.

Companies house
Legal and General
Cardiff county hall
DWP department
Network Rail
DoJ

Not a big list really. What is required are new businesses or companies that are new to Wales and or Cardiff.

What other companies based in Cardiff that can move central?
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Kyle

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Re: Central quay

PostMon Feb 26, 2018 4:18 am

amp wrote:Right I feel like a list. A list of possible companies taking offices in town.

Companies house
Legal and General
Cardiff county hall
DWP department
Network Rail
DoJ

Not a big list really. What is required are new businesses or companies that are new to Wales and or Cardiff.

What other companies based in Cardiff that can move central?


L&G have been taken older office space around their existing offices, and we've had the odd forum member that has sources there saying they won't be taking new office space. BUT, even if that is the case, with the way they are expanding in the city it means older space is being swallowed up by them and other companies with similar strategies, which leaves less available space and forces other occupiers into taking up new offices I guess.

Deloitte have just announced more jobs, and may have a few hundred more lined up if the recent news story on them comes true, but like L&G they seem to be taking cheaper office space in the city. Again though, if that happens then it means less and less space left for others.

Network Rail already have space in a new office don't they, at Capital Quarter?

Whatever happened to those rumours of PwC jobs, did they go to another city or did it never happen?

What will be interesting is how the latest new offices about to open up at Capital Quarter fair. Number 3 is about to be finished and Number 4 is only a few month behind. I know it's cheaper than Central Square and probably what the Ledger building will be rent wise, but if it does let fairly quickly then the market is still pretty healthy demand wise. I can't see J R Smart starting at John Street unless there's quite a bit of demand, so that will be an indicator as well.
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Ash

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Re: Central quay

PostMon Feb 26, 2018 9:22 am

amp wrote:Right I feel like a list. A list of possible companies taking offices in town.

Companies house
Legal and General
Cardiff county hall
DWP department
Network Rail
DoJ

Not a big list really. What is required are new businesses or companies that are new to Wales and or Cardiff.

What other companies based in Cardiff that can move central?


There's also the un-named inward investor which is considering locating above the new bus station.

The thing is we seldom know about companies that are new to the area until they're announced. I doubt whether Rightacres and JR Smart would be so bullish about the market unless there was a pipeline of potential tenants. Neither company has a track record of mad speculative builds.
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Amoore

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Re: Central quay

PostMon Feb 26, 2018 2:46 pm

Cen wrote:
Amoore wrote:This talk of 50 bars and restaurants makes me laugh when they can't fill the handful of units in the Brewery Quarter as it is. Even St Davids has empty restaurant units.
I don’t think that’s fair. All the good restaurants are nearly always fully booked at peak times. Restaurants in Cardiff are probably far more profitable than retailers currently. I’d say the reason for the empty restaurant units is more to do with the business itself serving low quality food or charging too much money. Or just misjudging the market with excessively niche ideas - like Burger and Lobster.


I think it's perfectly fair considering the sort of businesses this development will attract is the same as St Davids and Brewery Quarter, and they can't presently fill their units.

I'd question how profitable many of the mid-large restaurant units are in Cardiff, considering they're usually empty through the week and only fully booked (if at all) at weekends.
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Cen

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Re: Central quay

PostMon Feb 26, 2018 4:27 pm

Amoore wrote:I think it's perfectly fair considering the sort of businesses this development will attract is the same as St Davids and Brewery Quarter, and they can't presently fill their units.

I'd question how profitable many of the mid-large restaurant units are in Cardiff, considering they're usually empty through the week and only fully booked (if at all) at weekends.
Which units are you referring to? Nearly all the restaurant units in St David’s are occupied (if not all). They’ve even turned some retail units into restaurant units to accommodate new businesses (e.g. Shake Shack and EAT). I don’t go to the Brewery Quarter all that much but I’m pretty sure it’s mostly occupied.
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Ash

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Re: Central quay

PostMon Feb 26, 2018 4:41 pm

Cen wrote:Which units are you referring to? Nearly all the restaurant units in St David’s are occupied (if not all). They’ve even turned some retail units into restaurant units to accommodate new businesses (e.g. Shake Shack and EAT). I don’t go to the Brewery Quarter all that much but I’m pretty sure it’s mostly occupied.


Agreed.There are a couple of vacant unit around but not many. There is a squeeze on mid market casual dining though, so there could be closures on the way. Strada has recently closed in Mermaid Quay and they seem to be struggling to find a permanent tenant for the old Bosphorous building

https://www.theguardian.com/lifeandstyle/2018/feb/22/casual-dining-crunch-jamies-italian-strada-byron-struggling
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Amoore

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Re: Central quay

PostMon Feb 26, 2018 5:48 pm

I believe EAT is closing, Red Hot lies empty and I'm assuming the long overdue Thai restaurant in the old Armani Exchange has fallen through as its been quiet on that front for a while. There's still a unit that hasn't ever been used, and there are several units that have failed including Ruby Tuesday, Bellinis and Toby Carvery. Granted, those have been replaced and their failure could be for many reasons unrelated to the centre but the overall picture painted is not one that suggests 50 new restaurant/bar units would be a good idea.

As far as Brewery Quarter is concerned, I don't go there that often either (who does?), but I believe the former Lava Lounge unit is empty and last time I went there a smaller unit between Yard and Porto Due (used to be called Jam Jar I think).

I say this as someone in this industry - I can't see a positive outcome from 50 new bar/restaurant units, even if some of those were coffee shops/Greggs. Even at best, if the units were snapped up and the area became the place to go at night, the city centre would be decimated.
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Ash

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Re: Central quay

PostMon Feb 26, 2018 6:25 pm

Amoore wrote: I say this as someone in this industry - I can't see a positive outcome from 50 new bar/restaurant units, even if some of those were coffee shops/Greggs. Even at best, if the units were snapped up and the area became the place to go at night, the city centre would be decimated.


Well that would certainly be the case if the size of the market were to remain static. Completion of the whole Of Central Quay has to be at least five years away though, by which time the city's population will have risen by around 25,000 if you believe LA projections. On top of that the number of people visiting the city is currently increasing by around 5% per annum.

Fifty is a very ambitous number though. If the current trends away from casual dining continue, that could well be cut as the scheme progresses. What we certainly don't need is the sort of problem they had around the marina in Swansea where catering units remained vacent for decades
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