Grosvenor Waterside is pressing ahead with plans to build up to 18,580 sq m (200,000 sq ft) of speculative offices close to the National Assembly for Wales in Cardiff Bay.
Andrew Brooks, development director of Grosvenor Waterside, said: “Demand for space is excellent and we are in negotiations for the first 30,000 sq ft with three organisations, all of whom are citing proximity to the National Assembly and the Bay location as being key factors in their choice of premises.”
Grosvenor Waterside, the property development subsidiary of Associated British Ports Holdings, is speculatively developing the office scheme in two phases of about 9,290 sq m (100,000 sq ft) each. The first phase will comprise a 6,410 sq m (69,000 sq ft) building near the Queensgate roundabout and a 2,879 sq m (31,000 sq ft) building on Pierhead Street, overlooking Roath Basin.
According to Brooks, the decision to build out the second phase speculatively will depend on the level of demand for the first phase.
EGi News 22/03/00
