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Parmer Cardiff Waterside

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Parmer Cardiff Waterside

PostTue May 01, 2018 11:18 am

WalesOnline is reporting the new owners of Cardiff Waterside have added "Parmer" to the start of its name - apparently its a brand they use for their 'innovation centers' in the US and UK. It appears they have holdings in Raleigh-Durham (North Carolina), Austin (Texas) and Sacramento (California), as well as Manchester and Cardiff.

https://www.parmerinnovation.com/

As well as a name change, in the shorter term they want to "increase the amenities" at the site. Is this suggesting they will try to get a cafe, or a couple of food trucks (a couple of days a week)?

The article leads on ambitious plans for 360,000 square feet of new office space. But here it seems there is no change from Aviva's position. Basically nothing will happen without a pre-let. And I don't really see that happening given the significant space coming on stream around Central Station - which is significantly better connected.

The new owners seem to have a focus on out-of-town space in more campus-like settings. Does that mean they might try to change the sort of occupiers Cardiff Waterside is looking for? (Maybe sticking with prices around £22 a square foot, rather than pushing up to £25-26 level)

https://www.walesonline.co.uk/business/commercial-property/ambitious-plans-new-wave-offices-14598683
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Cardiff

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Re: Parmer Cardiff Waterside

PostTue May 01, 2018 12:14 pm

Well they are doing a lot of work in cleaning up the buildings and public realm down there, they seem to take an interest in their investment unlike the company before. With vacant land down there and the new proposed arena i could see a hotel going on the site next to the assemby and another large car park on the site next to celestia/caspian point with a pedestrian bridge over tot he red dragon center car park.
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Kyle

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Re: Parmer Cardiff Waterside

PostWed May 02, 2018 5:05 pm

I wonder if they are thinking just that, aim for occupiers after cheaper rent?

They are up against it with two local developers in Rightacres and J R Smart both leading the way in the city centre, with plenty of land from both yet to develop and plots around Dumballs Road and Callaghan Square that are sat vacant or are ripe for redevelopment that could be aimed at that same cheaper rent level market. Rightacres could easily add a Two Canal Parade and likewise J R Smart might yet build an office on the last plot at Capital Quarter...and they still have alot of space to let there anyway at Number 3 and 4.

For me I think hotels are a good idea, as has been suggested above. With the arena going down there they have a chance to ride off the back of that. There's already a Premier Inn going up at the moment to add to the other budget hotels down there, plus the Coal Exchange redevelopment. Is there going to be a market for a couple of 4 star hotels to be built?

Or maybe some space aimed at smaller organisations, but then that requires a speculative build and more of those Brickworks offices at Porth Teigr would be better for that down there maybe (whatever happened to that second building actually?)

Anyway, good luck to them. I'm not against more companies being based down the bay, if it brings more jobs to the city that's a great thing.

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