Cooke & Arkwright’s Cardiff Office has played the leading role in the development, letting, sale and purchase of office properties throughout Wales over the last 30 years. Roger Thomas and his team have been responsible for many major developments in the City of Cardiff and throughout South Wales, including Fitzalan Court (Guinness Peat), Haywood House (Rightacres), Principality House (Principality Building Society), Trafalgar House (Chase), Harbour Drive (Atradius), Capital Waterside (Grosvenor/Associated British Ports), New Baltic House (Helical Bar), Fusion Point (Zurich), Cardiff Waterside (Aviva), Eastern Business Park (Robert Hitchins Properties), Cleppa Park (Robert Hitchins Properties), Caerphilly Business Park (WCR), The AXYS (BT/Standard Life) and One Kingsway (Axa). Other clients include Bamfords Trust, Mansford and JR Smart.
Roger Thomas. FRICS Chairman
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Ben Bolton. BSc (Hons), MRICS, Associate Director
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Rhydian Morgan BSc (Hons), MRICS, Surveyor
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Tel: (029) 20 346346
Cooke & Arkwright’s expertise covers the broader spectrum of office types from prime City centre to refurbishment, Waterfront redevelopment and regeneration and business parks. Advice is given to owner occupiers, developers and institutional/private investors.
Cooke & Arkwright’s in-depth knowledge of the market is probably unrivalled throughout South Wales. The firm is frequently retained to undertake pre-acquisition search and advice for a wide range of clients. This involves working closely with the client to formulate a detailed brief, often working with the client’s other consultants. Clear advice is also given on tenure options, exit strategy, lease-backs, etc. Recent instructions include, Welsh Water, British Energy Plc, British Telecom, BBC and HTV.
Many of the examples cited above have resulted from development situations where Cooke & Arkwright have advised throughout the whole process. Land acquisition, development concept and planning, project letting and investment sale. Work of this nature always involves a long term commitment and consistent advice, and sometime perseverance, is needed.
Office occupiers (and also by implication the providers of office space) have an awareness of all occupational costs. This includes not only rent but service charge, insurance costs and business rates. We monitor occupational costs on client’s behalf to ensure that value for money is being derived and competent management/facilities are being provided. This applies equally to landlords and tenants.
Cooke & Arkwright undertake a large volume of rent reviews for both landlords and tenants on office properties. Our staff are well versed in the legal background and precedents as well as having the market intelligence which the scale of the Cooke & Arkwright business provides. Its successful track record in dealing with the rent reviews of many of the major Cardiff office buildings speaks for itself.
With the growing trend towards shorter leases, lease renewals are more frequent and demand an all-round view to be given, not only on the appropriate rental level, but also on the wider lease terms which ultimately dictate that rent. Changes in court procedure mean that lease renewal progress needs to be carefully monitored and momentum maintained. The possible use of procedures such as PACT (Professional Arbitration on Court Terms) may need to be considered.