New tenant takes lease in tallest office block
WALES’ tallest office building has a new tenant in law firm Thompsons. The legal firm, which specialises in personal injury and medical negligence cases, has taken a 10-year lease on a 2,299 sq ft fifth-floor office suite of the 25-storey Capital Tower in the centre of Cardiff.
Landlord Trinova was represented in the transaction by joint letting agents Knight Frank and Fletcher Morgan. Thompson was represented by Avison Young.
The building, which extends to more than 124,000 sq ft, was acquired by Trinova from Topland in 2018 for £25m.
John James, of Fletcher Morgan, said: “Capital Tower’s position in the heart of the city centre has always been a popular choice for occupiers. The arrival of national legal firm Thompsons is clear evidence of the building’s attraction.”
Mark Sutton, partner in the office agency team of Knight Frank, said: “There has been huge investment in Capital Tower in recent years and the multi-million-pound refurbishment has included a new reception and new high-speed ‘smart’ lifts, with the contemporary refurbishment being rolled out over a number of office suites.
“The landlord has also developed a range of office options at Capital Tower tailored to accommodate the needs of businesses of all sizes – from a few desks in flexible fully-serviced offices, or tailored managed office agreements where the tenant pays a single monthly fee, as well as office space under traditional lease agreements.”
Michelle Cronin, commercial director at social justice at Thompsons Solicitors, said: “As the sector emerges from an incredibly challenging 12 months, we are pleased to make this move into our new state-of-the-art office in Capital Tower.
“The new open-plan office fits with our pandemic and post-pandemic agile working plans.
“This move, together with the senior hires Thompsons has made over recent months, provide a unique platform for us to thrive as we emerge out of lockdown.”
The firm, which has offices across the UK, has relocated its Cardiff office to Capital Tower from Churchill House.
Other tenants in the 1960s-built block include Admiral, DevOpsGuys, Dolmans Solicitors, Randstad and the Law Society.
The latest tenancy deal brings the total occupancy of the building to 83%, with 20,531sq ft available to lease.