The Welsh Rugby Union (WRU) has appointed DTZ Debenham Tie Leung to find a buyer for the Westgate Plaza site next to Cardiff’s Millennium Stadium.
Sources indicate that Cardiff planners are now prepared to approve a 300,000 sq ft office-led mixed use scheme, although the WRU is likely to stipulate that any new development should not affect views of the stadium
The site is one of the most significant redevelopment opportunities in the city centre and is being offered along with the former County Court building in Westgate Street that is also owned by the WRU.
The appointment of DTZ follows a failure earlier this year by the WRU to secure an off-market sale for the site.
Three years ago the WRU had to abandon a development agreement for the site with preferred developer Brunswick after the south Wales-based company went into receivership.
Alan Hamer, WRU finance and administration general manager said: “The former County Court building and Westgate Plaza are important assets which the WRU have held for some time and which we now want to realise.
“We will ensure the appeal and operation of the Millennium Stadium are not compromised in any way, but we aim to support an exciting new development project here during 2005 that we feel will further enhance the Welsh capital.”
Rhys James, head of DTZ in south Wales, added: ”Although there are a number of complex legal, planning and highways issues to be taken into account, Westgate Plaza undoubtedly represents one of the most exciting redevelopment opportunities within the capital city.
“The site has frontage to Westgate Street and wraps around behind the Yates and County Club buildings whilst including the listed former County Court Building which could possibly be sold off separately.
“There is scope for a variety and mixture of different uses including residential, offices, hotel, retail and leisure; with appropriate design and massing, a new floor area of up to 300,000 sq ft could possibly be achieved.
References: EGi News 21/10/04
