Background

With Cardiff’s population expected to grow significantly over the next 20 years, the city’s housing provision and infrastructure are being put under increasing pressure.  Furthermore, the 12-acre site outside the main station was an unwelcoming environment, with an underused bus station surrounded by decaying 1950s office buildings and shops, large parts of which lay fallow. To tackle this challenge, Cardiff Council created a strategy to develop this prime regeneration site in the heart of the city.

Solution

We formed a joint venture partnership with Rightacres (a local developer) and Cardiff Council to drive forward the redevelopment of Cardiff Central Square. This project marked the largest privately funded development in Wales, as well as the country’s largest build-to-rent scheme.

Benefits

Located in a prime city centre location, Cardiff Central Square is set to delivering major social and economic benefits, and proves the model for the public and private sectors working together to unlock real UK growth.

The redevelopment masterplan has delivered 1.4m sq. ft of prime mixed-use accommodation, with a gross development value of over £450 million. The final major element of the regeneration scheme will include a new bus station, 318 build-to-rent apartments and 100,000 sq ft of Grade-A office space. In addition, the project has helped create 10,000 jobs in the local area.

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The Real Assets Solutions team operates right across the entire LGIM Real Assets platform. With more than 100 years of combined industry experience, our 10-strong team draws on the expertise of former investors, consultants and product specialists.