Welsh Water signs largest Welsh office letting in eight years

  Welsh Water has signed what agents claim is the largest office deal in Wales since 2001.   Dwr Cymru Welsh Water has agreed to buy HSBC Specialist Investment UK Active Property Fund’s Linea building on St Mellons Business Park, Cardiff for its own occupation.   Details of the deal remain confidential but an asking price of  £15m was quoted for the 75, 000 sq ft building. Commentators say in the present market, it sellers would be expected to cut 20% off this.   Matt Phillips, managing partner at Knight Frank in Cardiff which acted for the seller, said: “Deals of this size are rare in Cardiff…this is the largest office transaction that Cardiff has seen since Eversheds moved to Callaghan Square in 2001.”   The building will eventually house up to 650 staff, including Welsh Water’s customer services department, as well as its environmental services companies Veolia, Kelda. United Utilities Operational Services and Appcon.   Staff will transfer from the water companies current premises on Easter Business Park over the next twelve months.   Knight Frank and LSH acted for the seller. DTZ acted for Welsh Water.   nadia.elghamry@rbi.co.uk