Final unit under offer in redeveloped leisure quarter in Cardiff’s Church Street

17 September 2019
  • Church Street Cardiff Cooke & Arkwright
  • Church Street Cardiff Cooke & Arkwright
  • Church Street Cardiff Cooke & Arkwright
  • Church Street Cardiff Cooke & Arkwright
  • Church Street Cardiff Cooke & Arkwright

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Commercial property specialists Cooke & Arkwright and Bruce Gillingham Pollard have announced that the final unit is under offer at the new restaurant quarter in Cardiff’s Church Street, which has been redeveloped by the landlord, Hermes Investment Management. This follows multiple new lettings at the scheme, with Indian street food restaurant Mowgli now having opened its first restaurant in Wales.

Mowgli will soon be joined by decadent cocktail chain The Botanist, Vietnamese restaurant Pho, and burger chain Honest Burgers have also opened their first outlet in Wales at the scheme.

All occupiers have agreed leases of 15 years or more, demonstrating their commitment and confidence in the Welsh capital. Cooke & Arkwright and Bruce Gillingham Pollard were instructed by owner Hermes as joint letting agents. 

Huw Thomas, director in Cooke & Arkwright’s Retail & Leisure agency team, said: “The last unit of 1,370 sq ft unit on the ground floor is also now under offer, which will bring the scheme to full occupation.

“Church Street is in a highly desirable location in Cardiff within a stone’s throw of the city centre’s popular hotspots such as the Hayes and St Mary’s Street. These new restaurants and bars will be a welcome addition to Cardiff’s ever-growing hospitality scene.

“Over the last 10 years, Cardiff has experienced a huge shift from a solely retail offering and now offers an excellent food and drink scene. It’s great to see national occupiers signing long-term leases to operate in the heart of the capital.”

Victoria Broadhead from Bruce Gillingham Pollard added: “The introduction of these occupiers will give Church Street the new lease of life that has been needed for a number of years. Cardiff is such a vibrant city with a large, young professional population and a lucrative visitor economy. Mowgli is the perfect occupier for the cosmopolitan Cardiff customer and ideally complements the existing line-up. Having focussed exclusively on expanding nationally, Mowgli is a great example of the quality operators successfully trading outside of London.”

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