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Re: One Capital Square

Work to start very shortly according to the video in this article http://www.walesonline.co.uk/business/business-news/watch-businessman-behind-cardiffs-ambitious-7260946

quite good news too that they are in talks with 3 different employers for 2 Capital Square.

Re: One Capital Square

Yup that is all quite promising. Seems like this is the new "on the go" development. With Capital Quarter also doing not too badly either.

On the other hand, the Bay seems to have slowed right down. Not much else happening in Roath Basin. Cardiff Waterside looking to have stalled now the BBC has decided to go to the city centre (which really is understandable from a staff point of view). And nothing whatsover happening in the old Butetown area suggesting the council's plans for the Coal Exchange will have to be pretty special to drive investment in that area.

In terms of the 100,000 square foot occupier, who could it be?

Well one is Legal and General obviously. The other is Hugh James. But would be much better if it were one of the 'inward investors' looking to move some functions from London. And here the article itself says: PwC, HSBC and Barclays are considering the city. And previous articles have said an inward investor is looking to bring perhaps 1000 jobs to the city - which would equate to, you've guessed it, about 100,000 square feet.

Re: One Capital Square

It is very promising isn't it ?

So :

- Barclays, HSBC and PwC are potentially looking for space on
top of the usual suspects like L&G and the various legal entities

- Planning permission for number 2 is being talked about
already (in relation to one of the above hopefully)

- Hopefully we get a start date on number 1 on July 14th as mentioned

I agree about the Bay, I'm really curious about what Aviva and Igloo will do next. That GloWorks building is designed to be one of a few and it's going to look quite lonely for a few years unless Igloo and the Welsh Assembly fancy taking some risk with more speculative space. There's meant to be some residential at Porth Teigr as well but nothing has been mentioned for years.

As for Cardiff Waterside, Number 3 has been filling up quite well so would they be prepared to build speculatively when most potential occupiers would be drawn to the enterprise zone city centre developments ? That Number 1 and Number 2 plot at Assembly Square doesn't look like being built any time soon but the more worrying part of their development is Pierhead Street. Maybe a change of use would be on the cards there ? Maybe residential ?

Re: One Capital Square

I'm increasingly thinking the pierhead street site might be used for the Arena/Conference centre that Cardiff Council want to build - if that still goes ahead - and if its big enough (I've looked, and it might be a bit tight).

Why? Because it looks like they've lost the Callaghan Square site with the WG building more offices on the south side of the square. Phase I could commence relatively shortly, although that could then lead to a bit of a glut on the market (given Capital Square 1, Capital Square 2, Capital Quarter 1 and Capital Quarter 2 - too many Capitals!) unless we do get a couple of Barclays, HSCB or PwC to committ to the city.

And the more I think about it, it could actually work fairly decently if they get public transport to the bay working correctly. In the short term they could put on a more frequent and longer train service on event nights. Together with the Bay Car this would provide quite a lot of capacity. You've also got large car parks at Cardiff Waterside and at Atlantic Wharf (which remains under-utilised). And in the medium-to-longer term you've got the proposed tram-train (which such a scheme might help facilitate).

Having the conference centre near the bay would surely give a good impression of the city - at least in the summer. There would be quite a lot of restaurants nearby (Mermaid Quay) And it would provide a boost to getting more hotels down the bay. I recall 2 hotels were planned as part of the Igloo scheme but its gone quiet - this could give them some leisure and conference customers too. And could see a hotel in the old Merchant Place scheme too.

The entrance for the Arena would have to be as far as possible from Celestia - close to the car park pedestrian entrance, say. And I'd probably make the Pierhead Street and Bute Place roads narrower to accomodate a bit extra space for the building, and to allow wider pavements. But it looks like a possible plan to me.

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