CableTel has taken a pre-let on a new 4,645 sq m (50,000 sq ft) call centre and regional headquarters building at Celtic Gateway business park in Cardiff Bay. The deal will trigger the development of the £50m office and media centre scheme.
Developer Celtic Gateway – a joint-venture between the TCI Corporation, Ashquay Group and Christiani & Niesen – is quoting up to £145 per sq m (£13.50 per sq ft) for design-and-build packages. CableTel, which was unrepresented, has signed a 15 year lease with no breaks.
Once the CableTel building is finished in July next year the company will move its staff from short-term premises it occupies at Cleppa Park in Newport.
Infrastructure work will start now the first tenant has been secured. Altogether there is room for around 26,941 sq m (290,000 sq ft) of office accommodation on the site.
Andrew McGregor of Chesterton, letting agents on Celtic Gateway, said that once an occupier had been secured for part of a proposed 2,322 sq m (25,000 sq ft) multi-media centre, the whole building will be put up speculatively. The developer is already talking to Welsh TV Channel S4C’s multiplex company, SDN.
EGi News 04/06/97
