Italian restaurant Prezzo is opening on the site of a former Spar grocery store in Windsor Road, Penarth, on Thursday 12 March. Twenty new jobs are being created at the restaurant, which has cost £750,000 to redevelop. As part of the redevelopment of the Edwardian building, the original cornice features have been restored and a spiral staircase installed. The restaurant features limed oak panelled walls and bronze bevelled mirrors.
An important deadlines for business rate appeals is looming. The date by which appeals must be received by the Valuation Office Agency in England is 31 March 2015 in order to be effective from 1 April 2010. Successful appeals lodged after 1 April 2015 will only be backdated to 1 April 2015, potentially missing five years’ worth of benefit.
Improving sentiment in the retail sector has been reflected by four recent lettings at St Elli Shopping Centre in the heart of Llanelli, which has brought the scheme to almost full occupation. Joint letting agents Cooke & Arkwright have leased four units at the centre to Burger King, Yours Clothing, Mobile Buddy and Emilia May Gifts on behalf of the owner, NewRiver Retail. The leading specialist REIT, which is focussed on the UK food and value retail sector, purchased St Elli shopping centre from Axa for almost £30m at the end of 2013.
Millennium Stadium is celebrating its 15th birthday with news of a boost to its finances after learning that it has been successful with its appeal against the rateable value ascribed to the Stadium. The Stadium, which is wholly owned by the Welsh Rugby Union, will benefit from rates savings of almost £3.5m over the period 2005 to 2017. These savings will allow the WRU to further invest in rugby at all levels.
Admiral Group’s newly constructed primary office building in Newport has been sold to leading global Real Estate Investment Trust, W. P. Carey Inc for approximately £20m. The 83,000 sq ft office building, which is let to Admiral Group for 20 years, is part of Scarborough Group International’s redevelopment of the former Cambrian Centre opposite the newly developed railway station. Cooke & Arkwright acted as joint agents on behalf of Scarborough Group in the deal.
The Royal British Legion has acquired by Lease two floors of Alliance House at the juncture between High Street and Mary Street, close to Cardiff Castle. The ground floor will house one of 16 new ‘Pop In’ advice and information centres that the charity is opening around the country following three years of development and restructuring. It will act as a first port of call for Service personnel, veterans and their families and is due to open in October. Cooke & Arkwright acted on behalf of the landlord, Alliance House Properties Ltd in the deal.
Queensberry Real Estate announces the appointment of Cooke & Arkwright as the new retail letting agent for Friars Walk, the 390,000 sqft shopping and leisure development in Newport city centre due to open Autumn 2015. Cooke & Arkwright is the third letting agent working on the scheme and joins national agents Lunson Mitchenall and Strutt and Parker. Cooke & Arkwright is the one of the largest independent practices in Wales and provides a full range of multi-disciplinary services. Based in Cardiff and with strong links to Newport, the firm is already extremely active in Newport City Centre and the wider catchment area.
The first Welsh-language, Organic Day Nursery in Cardiff is set to open in the former St Anne’s Church-in-Wales school in Roath in October. The former school was closed a year ago as part of Cardiff Council’s reorganisation of the city’s educational facilities. Meithrinfa Y Pelican, or The Pelican Nursery will bring a new lease of life to the building and provide a nurturing, ‘learn-through-play’ environment for both Welsh and non-Welsh speaking families in as eco-friendly environment as possible. The 3,070 sq ft school in Croft Street, Roath in Cardiff has been leased to the nursery by Cooke & Arkwright, acting on behalf of the Representative Body of the Church in Wales
A Grade II Listed converted Post Office in the heart of the historic village of St Fagans, is re-opening in July 2014 as ‘Old Post House’. The property has been leased and is being modernised and fitted out by local businessmen, Chris Price and Phil Davison-Sebry, who will run it as a Bed & Breakfast with six en-suite bedrooms, a function and events venue, and a ‘pop-up’ restaurant. It will also separately house their existing successful catering company, Business Lunch Company. Chris Hyde, Associate with Cooke & Arkwright’s Rural Department, which acts as managing agent for the freeholders of the property commented: