Cardiff City Council has appointed Knight Frank and CBRE to find a development partner to deliver its 800,000 sq ft Atlantic Wharf regeneration scheme.
The 11.3-acre site being marketed includes 890 homes, 1,090 hotel bed spaces, 210,000 sq ft of employment space, 300,000 sq ft of leisure space, and 133,000 sq ft of retail space.
The site comprises Cardiff’s Red Dragon Centre, a 1990’s leisure destination that is home to occupiers including Odeon, Hollywood Bowl, Grosvenor Casino, Five Guys, plus other retail operators, and additional adjacent land.
CBRE and Knight Frank have been instructed on behalf of Cardiff Council to seek formal financial proposals for the newly-created long leasehold interest for a term of 250 years with an annual peppercorn rent.
The development opportunity sits adjacent to the city’s new 15,000-capacity indoor arena, which is included in the masterplan submitted by Cardiff City Council, as well as a 182-bed hotel and public realm.
The arena, which will be delivered and operated by Live Nation, will form the first phase of regeneration. Construction is forecast to commence early 2024 and is scheduled to open in 2026.
See planning information for Cardiff>>
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