| wales TWO MORE IN CARDIFF K
night Frank has appointed building surveyor Rob Smith and graduate trainee Rachael Brown in its Cardiff office. Rob Smith joins Knight Frank’s Building Consultancy team from
Cardiff surveying practice SPSurveying, where he specialised in dilapidations, project management, condition reports and measured surveys. He previously worked with DTZ in Cardiff. Rob said: “Knight Frank is a high- profile firm with a strong reputation in Cardiff and I am looking forward to the new challenge.”
Rob Smith
Rachael Brown joins as graduate trainee having recently gained an MSc in Real Estate at the Cass Business School, part of City, University of London. She is now undertaking structured on-the-job training with Knight Frank to enable her to gain the Royal Institution of Chartered Surveyors’ APC (Assessment of
Professional Competence). She said: “I was keen to move back to my home city of Cardiff and Knight Frank offered a high-quality opportunity to develop a career in commercial property in a very friendly environment.” Matt Philips, head of the Knight Frank Cardiff office, said: “These latest recruitments are further evidence of Knight Frank’s ongoing growth as a key participant in Cardiff’s thriving commercial property market.”
JENNINGS BUILDING: PORTHCAWL T
he impressive transformation of the historic Jennings Building on Porthcawl seafront has been marked with an official opening event. Bridgend AM Carwyn Jones joined Cabinet Members from Bridgend County Borough Council, developers ABA Holdings, business owners, and representatives from Finance Wales, the Heritage Lottery Fund and Cadw to celebrate the iconic building being brought back to life. Wales-based developers ABA Holdings invested £2.5m in the Jennings Building project, and also received support from Finance Wales and Townscape Heritage Initiative Funding provided via Bridgend County Borough Council from the Heritage Lottery Fund and Cadw. With its picturesque location next to Porthcawl Marina, the
redeveloped Jennings Building now contains three food and drink businesses on the ground floor – a coffee shop, a pizzeria and a 5,000 sq.ft kitchen bar and restaurant complete with a full height atrium. All of the units have been allocated, and will be fitted within the next couple of weeks. The Leader of Bridgend Council “Councillor Huw David said:
“We are one of just two areas in the whole of the UK to have successfully set up five Townscape Heritage Initiatives, enabling us to focus on the Jennings Building in Porthcawl as being a crucial element of our regeneration plans for the town, as well as refurbishing other nearby landmarks such as the Pilot Lookout Tower and Customs House.” ABA Holdings Director Simon Baston added “It has been a
pleasure to restore such a fantastic building next to one of the most photographed lighthouses in the world”. Speaking at the official opening, Bridgend Assembly Member
Rachael Brown TWO CENTRAL SQUARE, CARDIFF
development in the centre of Cardiff to Credit Suisse Asset Management (“Credit Suisse”), for £56.5m, reflecting a net initial yield of 6.25%. The property is currently being developed by Rightacres. Legal & General will use the proceeds from the sale to reinvest into other similar real asset backed economic growth opportunities and remains committed to the regeneration of Cardiff city, continuing to fund the construction of this pivotal urban regeneration project through to completion of the build phase. Two Central Square is due to reach practical completion in September 2018, at which point Credit Suisse will complete the transaction.
L NEW JOBS TO BE CREATED IN CARDIFF W
elsh IT consultancy DevOpsGuys is set to create yet more new jobs in Cardiff following its move to new offices in the city’s tallest office building, Capital Tower.
DevOpsGuys, which develops solutions to transform and accelerate the way that organisations deliver software, has moved to 5,558 sq.ft offices on the 22nd Floor of Capital Tower, on a 10 year lease at a rent of £16 per sq.ft. Landlord Topland was advised in the transaction by Knight Frank. The company has expanded rapidly in recent years and, having outgrown its base at Trade Street, expects to double its current workforce to 170 within the next 18 months. Co-founder James Smith said: “We were really impressed with the refurbishment of Capital Tower that makes it a very attractive place to be based. The new entrance and reception, and the rapid new lifts, are great for both staff and clients.
62
egal & General Capital (“Legal & General”) announces that it has agreed the sale of Two Central Square, a Grade A office
Carwyn Jones said: “Fifty years ago, the redevelopment of a building such as this would have involved it being knocked down, so it has been great to see this project taken forward with such outstanding results.
COFFEE SHOP FOR QUEEN'S ARCADE A
ddington Capital, in partnership with the shopping centre owner EPISO, an opportunity fund advised by Tristan Capital
Partners, has let another unit in its Queens Arcade shopping centre to Tim Hortons coffee shop.
Tim Hortons is taking a new unit of around 2,000 sq.ft at 16
Working Street in Cardiff City Centre. This follows hot on the heels of Tim Hortons announcing in September that it would be opening its first coffee shop in Wales in the centre and would be taking a new 10 year lease of 2,500 sq.ft at Unit 20 Queen's Arcade. Tim Hortons is one of North America's largest restaurant chains, operating in the quick service sector. Famous for its lattes and "Dark Roast" coffees, Tim Hortons has more than 4,600 system- wide restaurants located in Canada, the United States and the Middle East, and serves 5.3 million Canadians every day. The company has announced plans to open widely in the UK.
MULTI-MILLION-POUND IMAGING ACADEMY T
he NHS Wales Health Collaborative has secured £3.4m of Welsh Government funding, on behalf of NHS Wales, to
develop an Imaging Academy in Pencoed, near Bridgend. The innovative 16,500 sq.ft site will provide a dedicated
environment to train radiologists and imaging professionals. Work has now begun to create the new National Imaging
Academy of Wales, which will be hosted by Cwm Taf University Health Board, and will be fully operational by mid-2018. The Welsh Government has provided £3.4m of funding. Independent commercial property specialist Cooke & Arkwright has been retained to provide strategic advice on the refit of the building. The firm was tasked with putting together a design specification for the construction tender process. The award-winning property firm has a long history with the building, having previously acquired the site over 12 years ago.
COMMERCIAL PROPERTY MONTHLY 2017
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108
