Exciting times at Central Square

Vote of confidence in Welsh economy

6 October 2015
  • Artist's impression of One Central Square

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The announcement that Legal & General have formed a JV with Rightacres to develop out the one million sq ft Central Square redevelopment in Cardiff city centre is a fantastic boost to Cardiff and South Wales as a whole. Chancellor George Osborne said it was a major vote of confidence in the Welsh economy; it is also a sign of confidence in the commercial property market in the region. Director Graham Davies, who has provided investment advice to Rightacres on a variety of opportunities at the location comments:

“The formation of this JV between Legal & General, as funders, and Rightacres, as developers, will ensure the delivery over the next 10 years of a series of new buildings at the entrance to Cardiff Central train station that will transform the centre of Cardiff.  We are talking on a daily basis with investors and occupiers who are now interested in relocating and investing in Cardiff, and Central Square is a big part of the city’s growing reputation”

Cooke & Arkwright continues to- provide advice to Rightacres, Cardiff Council and occupiers on a range of services within Central Square, including:

  • Acquisition of Marland House for Rightacres – this property will be redeveloped to form The Interchange (including new bus station)
  • Acting on behalf of Blake Morgan in acquiring 30,000 sq ft space at One Central Square, in what was the first letting at Central Square
  • Property management advice to Cardiff Council/ Rightacres on existing properties at Central Square
  • Retail agency advice to Cardiff Council/ Rightacres on existing retail units around Central Square, and on further retail opportunities within the new Central Square redevelopment.

Mansford has expanded its investment portfolio over the last few years. Over this time Andrew West has provided us with a full rating valuation service which has involved giving a view on liabilities prior to acquisitions, as well as conducting negotiations with Valuation Officers on our UK estate. The portfolio includes a wide range of properties from shops, offices and pubs to major leisure schemes. He has been particularly successful in mitigating our liabilities to empty property rate, which has been an issue on acquisition prior to implementing our development and letting strategy. I have no hesitation in recommending Andrew's expertise in rating valuation for all property types. The profile of property within his portfolio and the successes achieved are testament to his position as an extremely accomplished rating practitioner.

Leopold Hall, Partner, Mansford LLP