Sovereign Land is set to embark on Mermaid Quay – its £20m retail and leisure scheme at Cardiff Bay – after securing occupiers including Greenalls, Morland, Break for the Border and Whittards.
According to the developer, construction on-site will start this month. It has consent for a 13,006 sq m (140,000 sq ft) retail and leisure scheme on the west side of the Inner Harbour in the Bay, close to the newly selected site for the Welsh Assembly.
Backed by Schroder, Sovereign Land intends to open a ‘Covent Garden by the sea’.
Once developed, Mermaid Quay will join Tarmac Richardsons’ £30m Atlantic Wharf entertainment complex which is already open, Sir Rocco Forte’s five-star hotel, a multimedia park and over 27,870 sq m (300,000 sq ft) of retail warehousing.
Tim Binnington of Sovereign Land said: “This unique mix of attractions within Mermaid Quay and in the complementary developments that make up the Inner Harbour, will provide a waterfront scheme which will rival highly successful waterfronts at Cape Town, Boston and Baltimore.”
Letting agents on Mermaid Quay are Philip Hughes Davies and Healey & Baker.
EGi News 07/05/98
