Cardiff council has agreed to acquire long leasehold interests in the area around the city’s Central station.
In a cabinet decision late last week, the acquisition was approved with a view to enabling a considerably greater return in terms of wider development and transport initiatives.
This, a report presented to cabinet said, “would allow the development of a modern integrated transport hub”.
It added that current leaseholders had been willing to give up their interests on the terms negotiated.
The council has so far refused to publish the names of the properties it is seeking to acquire, which are located to the north and south of the station.
And though a price tag has not been set, the financial implications were said to be “both significant and commercially confidential”.
chris.berkin@estatesgazette.com
