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Wed November 20 2019

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L&G finalises Wales' largest BTR scheme

30 Jul Legal & General has exchanged contracts to complete the Cardiff Central Square development in partnership with the Welsh government and Rightacres Property.

Suits pose on site
Suits pose on site

Comprising more than 500,000 sq ft, the final major element of the £400m regeneration scheme will include a new Cardiff bus station, 318 build-to-rent (BTR) apartments and 100,000 sq ft of office space. 

Cardiff Central Square is the largest privately funded development in Wales. With the final elements in place, it will also have Wales’ largest build-to-rent scheme.

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Cardiff Council leader Huw Thomas said: “The building of a new bus interchange has been a number one priority for the council since day one of this administration, reflecting our commitment to delivering more and better jobs for the people of Cardiff and beyond. This will be the final stage of the completion of Central Square, which is the biggest regeneration project in Wales. The council’s original masterplan for this part of the city is now a reality and we are delighted that through it, thousands of jobs are being created in the Welsh capital.”

Dan Batterton, head of build-to-rent at LGIM Real Assets, said: “With Cardiff’s population expected to grow significantly over the next 20 years, increasing pressure is being put on its housing provision and infrastructure. We are delighted today to announce Wales’ largest build-to-rent scheme, which will help to address the growing challenges, offering high quality, affordable homes on long term flexible leases for elective renters. The delivery of high quality developments with vibrant communities is becoming more and more important. This latest project is the perfect example and will have a positive long term impact for Cardiff and the southwest more widely, maximising our existing infrastructure and supporting economic growth and job creation.”

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