Cooke & Arkwright appointed property agents for Parmer Cardiff Waterside

27 November 2020

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We have been appointed as professional property agents acting on behalf of Parmer Cardiff Waterside for their office schemes in Cardiff Bay. This appointment continues the firm's long-standing involvement with Cardiff Bay, from its inception with the Cardiff Bay Development Comany, to latter phases working with ABP and Aviva along the way.

The scheme consists of circa 500,000 sq ft of predominantly office buildings, with an additional three high-quality development plots capable of delivering a similar amount of space again. The instruction is timely as Cardiff Council is poised to announce its commitment to move ahead with the new Cardiff Arena at the Red Dragon Centre, along with improved transport links to the city centre. It is anticipated that this will turbo-charge the Bay area once again.

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group