Cardiff on the Rise & Merry Christmas

A recent report from property consultant Savills highlighted the upsurge in office demand in Cardiff and forecast that rents would reach £25 per sq ft in 2016.

The report concluded that total take-up at the end of Q3 stood at nearly 300,000 sq ft (27,860 sq m) and with the last two months registering significant prelets, including the 150,000 sq ft letting at Central Square to the BBC and Public Health Wales pre-letting 4,645 sq m (50,000 sq ft) of new offices on four floors at the under construction 2 Cathedral Quarter; the annual take-up total will reach 600,000 sq ft a 10% increase on 2014 and 20% up on the ten year average.

Earlier in the year, Cardiff saw major moves from Baccalaureate Organisation taking 48,500 sq ft and SSE taking 46,851
at Cardiff Gate Business Park.

Savills predict that One Central Square and 2 Capital Quarter buildings, could be fully let by early 2016. Therefore the main schemes in the pipeline are refurbishments including 50,900sq ft at St Patricks House, 35,000 sq ft at 2 Kingsway and 16,953 sq ft at Haywood House North on Dumfries Place,.

Metropolis is tracking over a dozen medium or large companies searching for office space in Cardiff.

Merry Christmas and a Happy New Year to all Metropolis blog readers from all the staff at Metropolis.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: