Cardiff searches crowding in

An October 2013 Cardiff office market report by property consultant GVA concludes that there is a shortage of readily available grade A office stock in the city, following the completion of Admiral’s new 200,000 sq ft HQ. The ‘Tipping Point’ report lists six medium to large requirements in the city, from the likes of AA, Geldards, L&G, Cunningham Lindsay and HSBC which total nearly 180,000 sq ft.

An analysis by Metropolis points to an even greater level of demand for office space in Cardiff. We are currently monitoring over 20 medium/large locally-based firms, either in Cardiff or looking at the city, which either have confirmed searches underway or are approaching lease decisions in 2014.

The main office schemes in the pipeline are the 75,000 sq ft Capital Quarter; 2 Callaghan Square where there is consent for up to 500,000 sq ft and Capital Quarter where developer Rightacres is contemplating a start on a 140,000 sq ft scheme.  Further details at our Cityoffices.net site.

None of these schemes are currently under construction, so many of the requirements will have to wait or settle for refurbishing B grade space in Cardiff. Some interesting plot twists await.

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