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10/08/2017

Biggest office leasing deal agreed for Welsh capital

Words: Roger Milne
Office space / Dhutterstock_381642448

The UK Government is to open a new hub in Cardiff after completing what is believed to be the largest ever office leasing deal in Wales.

In a deal agreed with Rightacres Property and Legal & General, the UK Government has taken a 25-year lease on 25,000 square metres of office space at Central Square, Wales’ largest regeneration project,

Central Square, which is being developed by Rightacres and funded by Legal & General, is set to become home to more than 4,000 public servants from a number of UK Government departments.

This includes HM Revenue & Customs (HMRC) – which will run one of their 13 regional centres from the site – and the office for the Secretary of State for Wales. The UK Government Property Unit (GPU), advised by real estate and investment management company JLL, is overseeing the deal for the new hub.

Construction of phase one of the Central Square project commenced in 2014, with One Central Square completed in March 2016.

Image credit | Shutterstock

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