Investor unveils bold new vision for the Bay
ONE of the biggest investors in Cardiff is calling for a tram link between the city centre and the Bay.
Global investment manager Schroders, through its Schroder UK Real Estate Fund, is the owner of Cardiff Bay’s flagship leisure and retail Mermaid Quay.
The fund provided investment for its initial development back in the late 1990s, with Schroders, as investment manager of the Fund, managing the centre ever since.
And Schroders’ head of UK retail and leisure, Harry Pickering, has been involved in the investment management of Mermaid Quay since the end of 2016 and has been tasked with developing a strategy for its reinvention as a leisure destination for the 21st century.
The plan includes a new vision that combines the latest industry thinking to create attractive public space and a contemporary new look, as well as new uses to tackle the seasonality of footfall in the Bay.
“We were delighted to see [Cardiff ] Council’s Crossrail proposals and in particular the fact that the tram will link Cardiff Central and Roald Dahl Plass,” Mr Pickering said.
“Improving public transport links between the city centre and the Bay is vital to its future success and we would like to see these brought forward as quickly as possible.
“However, we feel that the nature of the leisure and entertainment uses in the Bay mean that more car parking also needs to be a crucial part of the transport strategy.”
Schroders is seeking planning consent for its plans to extend the Mermaid Quay car park, including the introduction of more accessible spaces, electric charging points and a 60-space cycle hub, as well as an increase in parking space numbers.
Mr Pickering believes it will be a key catalyst for the implementation of the new vision strategy.
Mr Pickering explained: “Our car park is used by visitors to all of the waterfront attractions – Techniquest, the Wales Millennium Centre and Roald Dahl Plass, as well as Mermaid Quay. It often reaches capacity.
“More parking is needed as part of a joined-up transport strategy so that the Bay can meet growing demand, which will come both as a result of improvements at Mermaid Quay, including the arrival of Everyman, and the council’s ambitious plans for further leisure uses in the area, such as the new arena.
“We believe that one of the sustainable ways to deliver the additional