From Mudflats to Thriving Economy: a Property Perspective

Presentation by Michael Lawley Bsc FRICS DUniv MCIArb

5 June 2018
  • Cardiff Bay Cooke & Arkwright

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Cooke & Arkwright's Chairman delivered a presentation at The Vision for the Future of Cardiff Bay conference, held at the Exchange Hotel in Cardiff Bay on 30th and 31st May in conjunction with the Volvo Ocean Race.

“I am a property professional who has been working in Cardiff for over 35 years advising on real estate development and asset management. I still advise on property in Cardiff Bay but today most of my time is spent on delivering Plasdŵr, a major 7,000 house urban extension in North West Cardiff. My perspective is very much a property one and this is relevant to Cardiff Bay where property and real estate have been the main agents of change over recent decades.

I first visited the Butetown area in the early 1980s when I came to work in Cardiff.  By that time Eastmoors Steelworks had closed and the whole area was dominated by dereliction and unused land. Coal exporting needs large areas of land for railways, marshalling yards and coal staithes to tip the coal into the ships, but does not leave many buildings behind. 

A particular job I was given was to value an old industrial property in the area of the former West Bute Dock.  In those days photographs were all on film and the building I was inspecting did not merit many photographs, so I took the opportunity to wander around this area of dereliction and use up the rest of the film…

Read Mike's fascinating insider's perspective on the huge urban change that took place in full here.

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.

The Welsh Rugby Union Limited, Welsh Rugby Union Group