Hat trick of deals for Cardiff Waterside

17 February 2015

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Cardiff Waterside’s Caspian Point office development in the heart of Cardiff Bay is close to full occupancy following three new lettings completed by Cooke & Arkwright and Knight Frank.

The Aviva Investors supported scheme has now reached 95 per cent occupancy. Sapiens International, a global leader in providing software solutions for the insurance industry now occupies the whole of the third floor, extending to 12,800 sq ft, on a five year lease. Creditsafe Group, a global leader in providing on-line company credit reports has taken 12,785 sq ft on a ten year lease, and Energy Saving Trust, which helps householders, government organisations and businesses to save energy, occupies 3,800 sq ft on the fourth floor.

Ben Bolton, Director of Business Space with Cooke & Arkwright, and joint agent on the development commented, “These deals are fantastic news for Cardiff Waterside, but also for the city as a whole. It is important that leading international organisations see Cardiff as a good place to do business, and the decision to be based at Cardiff Waterside is made simpler not just by its excellent location, but also the Grade A quality office space available, which is in short supply. Cardiff Waterside is one of the leading office destinations in the city and this latest announcement and the fact the whole development is so close to being fully let underline that fact.”

Reinforcing the importance of Cardiff Waterside as a location, Cato Syversen, CEO of the Creditsafe Group added, “It is important as a company that we are seen to be at the heart of business activity in the region and Cardiff Waterside fulfils that need for us. Cardiff Bay has had huge investment in recent years and has become a focal point for business growth and development; Cardiff Waterside is at the heart of that growth. We are delighted to have signed a deal that will see us staying in the area for the next ten years at least.”

More deals are expected to be announced by Cardiff Waterside in the coming months and there is planning consent granted to develop a further 625,000 sq ft of office space across four sites within the development in the coming years.

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