Pioneering property developer, Loftco, has unveiled the second phase of apartments in its forthcoming mixed use Cardiff development, W2. Fifteen new apartments will be released to the market on a first come first served basis.
W2, located in the Canton area of Cardiff, situated directly opposite St David’s Hospital, features 44 one and two bedroom apartments. The £5.5 million pound redevelopment of the well-known red brick building on Wellington Street, will incorporate a full refurbishment of the original commercial units into retail spaces and luxury office units (available summer 2017), with the addition of a two storey vertical extension, which will house the new apartments.
Loftco are forerunners in the development of live/work units in Wales, regenerating historic buildings and landmarks to create stylish, cutting edge mixed use developments. Something most recently demonstrated with the opening of Grangetown’s new arts centre and business hub, Tram Shed and the redevelopment of The Pumphouse in Barry, the historic Grade II listed Docks building. Loftco are also are the developers behind the new Box City container village in the heart of Cardiff Bay, the first of its kind in the UK.
All accommodation at W2 has been designed to be future proofed, with smart app technology installed as standard to control the electric heating and lighting systems in select zones.
Each apartment has its own kitchen, featuring granite worktops; bathroom facilities, including under floor heating; built in wardrobes; laminate flooring and the development offers 24hr CCTV for additional security.
The second and third storey apartments boast panoramic views of the Principality Stadium, Penarth and Caerphilly Mountain.
The W2 development is eligible for the Help to Buy Wales scheme which allows eligible purchasers to buy new-build homes with assistance from the Welsh Government in the form of a shared equity loan. Help to Buy Wales is available to both first-time buyers and home movers wishing to purchase new-build homes worth up to £300,000, with a 5% deposit.
Speaking about the W2 development, Simon Baston, Managing Director of Loftco said:
“As a company we’re always looking for innovative solutions to create and deliver desirable live/work spaces within urban locations.
“We’re especially looking to maximise the potential of urban brownfield sites, which often occupy some of the most prized real estate in a city.
“W2 is a prime example of this philosophy. In its previous form it represented an under-utilised, under-valued commercial space, located in a prime spot just a few minutes walk from Cardiff city centre. This year it will be reborn as one of the capital’s premier live/work spaces, featuring aspirational office spaces and apartments, designed for the modern day requirements of city dwellers.”
Caroline Vanner, Head of New Developments in south Wales at Savills said:
“Savills are delighted to be involved in such an exciting scheme. Phase one sold out soon after the initial launch and we are thrilled to be launching phase two this week. We already have a waiting list of first time buyers and investors.”
Michael Edwards, Regional Land and New Homes Manager at Peter Alan: “Having been to the top floor of the site the views afforded to the future residents of W2 are largely unrivalled in Cardiff. It’s an impressive development and we anticipate that the release of the second phase of apartments will continue to be as successful as the first phase.”
Loftco has built over 400 houses and apartments in Wales over the course of the last decade and has won a significant number of awards for its sensitive and innovative restoration of many complex buildings, and its commitment to sustainable construction.
Joint agents Savills Cardiff and Peter Alan will be taking reservations from 4th April 2017. Prices range from £119,500 to £169,000. The development is applicable for the Help to Buy Wales scheme. Reservation fees are £1,000, or £500 with Help to Buy scheme.