Cardiff

TFT to monitor The Interchange, Cardiff, as the Welsh capital continues to transform

Photo Credit: HMA Architects

TFT has been appointed by Legal & General Capital Investments Ltd to undertake technical due diligence (TDD) for the acquisition and subsequent project monitoring for the development of The Interchange, Cardiff.

The Interchange is part of Central Square, Cardiff, a new live and creative business district built around the principal transport hubs (train, bus and future metro) and incorporating sustainable cycle highway connections to the rest of the city.

The instruction will span over a 3-year period and is the latest element of the city’s largest redevelopment scheme. TFT Partner John Newton will monitor the project following his involvement in Plots 6 & 7. Interchange is one of the final phases of the scheme and will comprise Wales’ biggest build to rent scheme, 84,000 sq ft of grade A offices, as well as a new and upgraded central bus station.

TFT’s continued involvement on Central Square, will enable best practice to be adopted on these latest works, to ensure the project achieves the investor’s time, cost and quality goals.

Development is underway at The Interchange (Photo credit: TFT, July 2019)

The scheme paves the way for economic and social growth in the Welsh capital, responding to the growing population’s demand for more private rented schemes and government calls to make housing more affordable.

The bus station, a 14-bay interchange with a concourse, is set to be operating at the end of 2022. The scheme will significantly improve passenger experience and efficiency in and out of the city centre as well as simplifying the travel to and from the new offices for visiting and permanent staff.

In response to the appointment, John said:

This fantastic development ticks all the right boxes incorporating Wales’ largest buy-to-rent scheme, creating new jobs via its office/retail elements and providing Cardiff with its new eagerly anticipated central bus station. The scheme’s developers – Rightacres Property Co Ltd – have worked tirelessly with Cardiff City Council to assemble the site and instigate development preparations. Now, together with the essential funding of Legal and General, they are ready to make things happen.

The Central Square development has created an impetus to redevelop the nearby old Brains brewery site and extended land into a large mixed-use scheme by the same developer. If plans come to light, the two schemes will transform the central area of Cardiff, enhancing its reputation as one of the fastest expanding capital cities in Europe, and improving its capability of attracting prime inward investment.

TFT votes to support local causes

In January, we were happy to ring in the New Year by giving everybody at TFT an extra day of leave to help a charity of their choice. Now, we are deepening our commitment to the local communities of each office around the country, with each office voting on local charities close to their homes and hearts, to support beyond the day job.

Each of our 7 offices in the UK (Bristol, Cardiff, Guildford, London, Manchester, Birmingham and Edinburgh) have chosen their two local charities in hope to give back to the communities they value the most. Typically, local charities are often in need of extra feet on the ground, so we hope this will also encourage more volunteering opportunities for each office.

While local charities benefit from personal involvement of local people, our teams will also see the impact of their contributions first hand.  

We want to be part of the bigger picture, helping to improve local environments and economies. Not only do local charities employ locally, encouraging personal interactions, but they also contribute to the growth and improvement of the direct community around us. As this community around us grows, we see significant and visible results enhancing overall wellbeing (Guardian, 2014).

Chris Keates-Lewis, Head of HR, said:

“This is an exciting direction for us, bringing our offices together in a TFT global effort to improve the lives of those closest to us, and the environment in which we enjoy our lives.”

The chosen charities include:

London: Bankside Open Spaces and Coram’s Fields

Guildford: Challengers and Macmillan Surrey

Bristol: St Peter’s Hospice and The West of England MS Therapy Centre

Cardiff: The Wallich and Ty Hafan

Birmingham: Birmingham St Mary’s Hospice and Zoe’s Place

Manchester: Wood Street Mission and 42nd Street

Edinburgh: The Cystic Fibrosis trust and Staffie Smiles.

TFT will also continue to support LionHeart and LandAid as their chosen national charities.

New Cardiff research paper published

Cardiff’s long history as a capital and industrial city has submitted to global economic change in recent years. A period of relatively poor economic performance and business investment has spurred a period of introspection. The emerging vision for the city’s future is ambitious and exciting. TFT’s newly published paper: ‘Cardiff: How property is helping the city rise to a new challenge’ reveals the changing urban fabric, the opportunities and challenges for the city’s property sector and how Cardiff’s growth will place demands on the existing infrastructure.

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