Boost for Cardiff Council's Capital Quarter development
Last month, the BBC announced plans to move its headquarters to Cardiff Council's Capital Square development, which was received as a huge boost for the city as the move is not only expected to bring extensive financial benefits, but is also likely to encourage other companies to relocate to the area.
Previously, Cardiff Council's Capital Quarter development had remained an empty construction site for a number of years. Now, however, it looks set to share Capital Square's good luck as Cardiff-based property development firm JR Smart have confirmed plans to build an 85,000 sq ft office block on the land; the offices, which have been called ‘No2 Capital Quarter’, will be accompanied by the construction of a student accommodation complex comprising of 580 bedrooms.
The future of Capital Quarter
Capital Quarter is an area of land flanked by Cardiff’s Tyndall Street and the Great Western Mainline; boasting relatively easy access in and out of the city centre and a close proximity to the University of South Wales’ ATRiuM campus, which re-opened last year, the Capital Quarter is a perfect location for student accommodation.
Having remained vacant for numerous years, the area has recently witnessed a number of new developments. Just last month, Business Minister Edwina Hart opened a new £2.5 million SmartBridge that crosses the Great Western Mainline and connects the area with both the centre of Cardiff, as well as the Welsh Government-owned No1 Capital Quarter office block in the construction zone.
JR Smart confirmed that work will begin on the No2 Capital Square office block later this month - with completion forecasted for Christmas 2015 – and they also revealed that the new student accommodation block will be constructed by Viridis Real Estate.
Improving Cardiff’s attraction to students and businesses alike
Both the Welsh Government and Cardiff Council believe that the opening of No1 Capital Quarter and the subsequent development of No2 Capital Quarter will help improve Cardiff’s total of Grade A office space and attract new businesses to the city, providing more employment opportunities in Wales. The building of a 580 bedroom student accommodation is also expected to help reinforce Cardiff’s image as a student friendly city.
Speaking about the future of Capital Quarter, Edwina Hart said:
“The opening of No1 Capital Quarter is a significant milestone in our plans to ensure Central Cardiff Enterprise Zone delivers new jobs, attracts new investment and provides a great environment for business growth”.
Cardiff’s modernisation and development has been phenomenal over the last decade, and the City has rapidly become one of the best cities in the UK for students. If you’re coming to Cardiff for your academic studies in September, have a look through the properties available to rent on our website and please feel free to call or pop into our office on Cathays Terrace if you have any questions.