NEW CITY HIGH RISE PLAN
A SCHEME for a 25-storeyhigh private residential apartment tower in the centre of Cardiff can be revealed.
Based on the site of the existing Landore Court in Charles Street, the project would also have retail and office space.
Early plans for the ambitious project, which would see 270 apartments built, have been developed by property development firm by Garrison Barclay Estates (GBE) that would see the existing 1990s-built Lland- ore Court – a detached block of four self contained office properties – demol- ished.
But even though GBE has just concluded a £5m sale of the 22,000sq ft build- ing, it is understood that new owner BP’s Rope- maker pension fund are looking to take forward the tower plans. The designs for the project have been drawn up by Cardiff-based John Wotton Architects. Landore Court is currently fully let. Tenants include expanding law firm Gordon Dadds and Harley Medical group. However, they are on short-term leases of two-and-a-half years’ duration. This could see the new owners taking forward the initial plans from GBE, subject to planning consent, from 2020 onwards.
As well as the private apartments, the scheme currently envisages 15,000 square foot of grade A office space, an element of retail space and 80 basement car spaces.
GBE acquired Landore Court last year from American-owned property investment firm Citruz.
Andrew Innes of GBE said: “Our intention was to redevelop Landore Court in 2021, but with a number of a major development projects under way, including two hotels, 800,000sq ft of industrial space and 130,000sq ft of office space, it’s time to exit all stock that’s no longer part of our core business.”
GBE recently secured planning consent to transform the tallest building in Newport, Chartist Tower, into a four star Mercure Hotel, as well as providing new retail and office space in the city centre.
Following the £5m Llandore Court deal, GBE plans to sell a further £10m worth of its property portfolio in South Wales by year end.
It comes as space at GBE’s latest acquisition, the £18m science park previously owned by GE Healthcare, at Coryton, Cardiff, will be brought to market later this month.
Landore Court currently generates a rental income of around £300,000 a year.