New image of landmark development is revealed

A NEW artist’s impression has revealed the scale of a landmark development in the heart of Cardiff.

The Capital Quarter, off Tyndall Street, will eventually see more than a million square foot of new office and student accommodation developed in the city centre.

The first two buildings have been completed, while the next two buildings will see 170,000sq ft of top quality office space being created.

The scheme could also see a fifth building created, which could be office or residential.

Work on 3 Capital Quarter is scheduled for completion in December, with 4 Capital Quarter set to be finished in September 2018.

Having acquired the site in 2007, developer JR Smart had the confidence to develop speculatively through the financial crisis.

Capital Quarter is now home to 1,000 staff in companies and organisations from cyber-security firm Alert Logic to Public Health Wales.

The 1 Capital Quarter building, whose tenants includes Finance Wales, is fully let.

The office scheme, which was acquired by the Welsh Government in 2014, was recently sold in a £20m deal to Global Gate Capital. The deal generated a profit for the Welsh Government of around £6m.

The 2 Capital Quarter building, which is owned by JR Smart, is close to being fully let. Only one floor is now available for let.

In September a 600 student bedroom accommodation scheme, with a public park space, from Viridis, will open at Capital Quarter.

A dedicated car park for Capital Quarter tenants, with 296 spaces, opened last December.

Fusion Students is also bringing forward another student accommodation scheme at Capital Quarter.

Capital Quarter is being marketed by the Cardiff office of property advisory firm Knight Frank.