Cardiff Waterside reinforces its importance to Welsh business

93% occupancy across Cardiff Waterside estate

2 February 2017

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Cardiff Waterside, located at the heart of Cardiff Bay and funded by Aviva Investors, has announced that seven organisations have shown renewed commitment to the location in the last few months by agreeing terms on new leases.

The recent announcements demonstrate Cardiff Waterside’s ability to not only attract organisations from various sectors but retain them due to the site’s combination of safe and secure parking, excellent links to the M4 and quality office environment. Companies such as Creditsafe and Sapiens who, together, currently occupy 32,800 sq. ft. of 1 Caspian Point and the British Medical Association who occupy over 5,000 sq.ft. are examples of the variety of organisations that have decided to base themselves at Cardiff Waterside and renew their leases.

Other businesses to show their renewed commitment to the site includes:

  • Universities UK which has completed a new ten year lease
  • The Association of the British Pharmaceutical Industry, which has signed a new five year lease
  • The Confederation of British Industry, which has completed a new five year lease
  • Graig Shipping, which has signed a new five year lease

Commenting on his company’s recent agreement, Paul Beard, Global Commercial Contracts Director for Creditsafe said: “It is very important to the continued successful operation of Creditsafe that we have agreed to extend our lease at 1 Caspian Point.

“The location is perfect for any organisation due to its accessibility and parking, making it easier for employees to work efficiently. As well as this, the Cardiff Waterside environment offers a pleasurable working experience due to its surrounding scenery and the leisure amenities on offer.”

Julian Cobourne, Senior Asset Manager at Aviva Investors commented: “We are delighted to be able to retain such a broad range of organisations at Cardiff Waterside who clearly understand its appeal and benefits compared to other business locations.”

Tim Lawley, Associate Director at Cooke & Arkwright, and Mark Sutton, partner at Knight Frank, joint letting agents for the scheme commented: “Such has been the success of the Caspian Point office scheme that 1 Caspian Point is now fully let with only smaller suites left available at 2 Caspian Point. The occupancy rate of 93% across the Cardiff Waterside estate demonstrates the stable nature of the existing tenant line up along with the continued demand for quality offices in the city. Opportunities remain at Cardiff Waterside for occupiers to secure Grade A accommodation from 500 to 20,000 sq ft.”

  • The Cardiff Waterside scheme currently encompasses office development at Discovery House and Emperor House at Scott Harbour; 1 & 2 Caspian Point; and 3 Assembly Square
  • There is planning consent to develop additional office space at 1 Assembly Square (76,383 sq ft); 2 Assembly Square (110,462 sq ft); and 5 & 6 Pierhead Street (437,588 sq ft)
  • Cooke & Arkwright are joint letting agents to the scheme with Knight Frank.

Pictured: Standing, l to r: Cato Syverson, Creditsafe; Ian Price, CBI Wales; Carla Murphy, BMA Wales; and Olivia Jones, Universities Wales
Seated: Tim Lawley of Cooke & Arkwright, right, with Mark Sutton of Knight Frank

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