Following necessary building work required by Principality to transform the side of their head office building, Wales’ largest building society has been able to create substantial commercial space large enough to house a self-contained retail unit separate from Principality House. The completion of the commercial space offered the opportunity for Principality to not only rent the space for further business income but also support the local economy at the same time.
Both businesses share strong roots in Wales, with award winning Coffee#1 growing over the past 15 years from its first Wood Street branch to 67 locations across South and West Wales, the South West and the South Coast, now as part of S.A. Brain & Co. Principality Building Society has been helping people prosper in their homes since 1860 and now has 53 branches and 18 agencies across Wales and the borders.
Speaking about the decision to team up with Coffee#1, Julie-Ann Haines, Principality’s Customer Director said: “Principality is a proud Welsh business and we’ve always been committed to our Welsh heartland. With the creation of the commercial space attached to the front of our headquarters, it’s given us the opportunity to team up with a business that shares a similar ethos.
“We’re confident this will be a really popular site for Coffee#1, with staff at Principality and members of the public making the most of the cosy coffee house.”
Coffee#1 has gained a strong following in Wales over the last decade thanks to their ethical gourmet coffee and homely interior.
Scott Waddington, CEO of Brains commented: “Coffee#1 has been a great success story for us and we continue to invest in the development of our stores and people. Our intention is to continue with the growth of this successful brand and our eyes are now set on 100 coffee houses. We have a very simple strategy driving the business, to focus on giving our customers what they want; outstanding coffee, great service and a comfortable environment. The Friary branch is the perfect partnership between two Welsh brands.”
Commercial property agent Cooke & Arkwright oversaw the letting of The Friary space.
Huw Thomas, director at Cooke & Arkwright, said: “Both businesses have strong links to Wales and play an important role in the local economy, so it’s been a pleasure to work on behalf of Principality in letting the space to Coffee #1.
“We’re pleased to have been able to find suitable premises for Coffee#1 to grow its business and expand its offering in South Wales. The Friary is positioned to attract both commuters on their daily routes to and from work, Principality staff, and casual shoppers and passers-by who have the time to stop for a little longer, so we’re confident that these new premises will do very well.”
Pictured: Julie-Ann Haines, Principality Building Society Customer Director; Ana Placinta, Manager Coffee#1 at The Friary; Huw Thomas, Director Cooke & Arkwright