Cardiff City Deal takes step forward

'In principle commitment' welcomed

27 November 2015

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Chancellor George Osborne announced an ‘in principle commitment’ to help fund the Cardiff City Deal in his Comprehensive Spending Review on Wednesday 25 November 2015, which set out the government spending plans for the next five years. He did not say how much the UK government would be prepared to invest. Outline proposals for the City Deal funding for the Capital Region were submitted to the UK government earlier this autumn by ten local authorities in south-east Wales.

Michael Lawley, Chairman of Cooke & Arkwright said, “This ‘in principle commitment’ is great news for Cardiff and south-east Wales. The opportunity to now secure an effective injection of significant funding into infrastructure, such as the Cardiff Metro and Valleys Lines in particular, and securing political alignment across the Cardiff Capital Region, are big wins for business, investors and residents.”

Cardiff Waterside is a significant property holding for Aviva Investors at almost 500,000 sq ft. Our experiences show the benefit of working with a regional specialist where occupational markets can be unlocked with a good team with excellent local contacts. Ben Bolton and his team have done this for us for many years and been fundamental to our success and a very low void rate in Cardiff.

Matthew Leach, Arriva Capital Waterside