Expansion under way at landmark Maltings building as demand grows

Further 25,000 sq ft of office space to be added

3 February 2016

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Serviced office provider, The Maltings is undergoing a second major phase of expansion and refurbishment to provide an additional 25,000 sq ft of office space on two upper floors of its iconic, 18 floor, Grade II listed Victorian Malt House in East Tyndall Street, Cardiff. They will range from serviced offices for between one-to-four persons, and self-managed offices sized from 1,000 – 2,000 sq ft, to be ready for occupation between late spring and early summer 2016.

Tim Lawley, Associate with Cooke & Arkwright’s Business Space team and consultants on the scheme comments, “The Maltings provides very contemporary accommodation within a landmark building that retains many original features. The enthusiasm of the Chairman, Nick Williams, for getting things right is very infectious and testament to this is the fact that tenants are very complimentary about the service they are provided with, which they say is second to none. They particularly like the uniqueness of the building and genuine flexibility of accommodation to fit their individual needs. With a cluster of over 69 tenants, being an occupier presents excellent networking opportunities. Tenants range from solicitors, insurance and energy consultants and recruitment agencies to web developers, Information Technology specialists, laboratories, printers and designers.”

Nick Williams comments, “We are thrilled that due to high demand, we are developing a further 25,000 sq ft. Work is well under way and once complete, the expansion will provide enough office space for an additional 230 people. Three self-managed offices have already been reserved by existing tenants who require additional office space and we’ve received numerous enquiries regarding the smaller serviced offices. We always endeavour to improve our services and as a result of tenant feedback, there will also be more communal areas, including smaller meeting rooms and more break-out areas to encourage even more business networking.”

Just over three years ago The Maltings completed its first scheme, a £3m refurbishment of 18,000 sq ft of serviced and self-managed office space, along with video-conferencing, an on-site gym and café/coffee shop. This space quickly proved popular and is now 98% occupied, with many of its tenants having expanded within the building as their businesses have grown.

The Maltings was established in Cardiff over 30 years ago as a centre for Records Management and Document Storage. As well as storage, serviced and self -managed office space, it also provides video conferencing facilities, fibre optic high-speed broadband, a café, communal kitchen areas, a gym and shower facilities, complemented by a free shuttle bus to the city centre and ample on-site, secure parking.

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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