Four deals totalling over 30,000 sq ft in less than six months have left less than 2,000 sq ft of office space now available at the South Gate House office building in Wood Street in Cardiff city centre.
The multi-let 101,123 sq ft South Gate House is a 13-storey office building in the heart of the city centre, adjacent to the new BBC headquarters and HMRC offices currently under construction. Landlord Euranglo Cardiff – which was advised in the four deals by property consultancy Knight Frank – has carried out refurbishment works tailored to meet the needs of incoming occupiers. The latest deals were concluded from a quoting rental of £14.95 per sq ft.
LDMS is opening an office in Cardiff for the first time, and has leased 4,200 sq ft offices on the third Floor of Southgate House on a five-year lease. A financial services software specialist, providing full lifecycle loan management solutions to the credit industry, LDMS is part of the Link Financial Group which has offices in Caerphilly and London as well as six other European countries.
Chris Whitcombe, managing director of LDMS said:
”We are delighted to be opening our new operation in the centre of Cardiff. It’s very well located for both clients and staff and the office environment is ideal for our growing technical team”.
In addition, Atamis Accounts has relocated from Cardiff Bay and leased 1,800 sq ft on part of the 4th Floor on a new five-year lease.
Existing occupiers Social Care Wales and Transport for Wales have also signed new leases at South Gate House. Social Care Wales has increased its occupancy from 12,352 sq ft to 16,652 sq ft with a new 10-year lease on the 6th and 7th Floors. It was represented in the transaction by GVA. Transport for Wales, represented by Alder King, has doubled in size with a new three-year lease to take a total of 8,600 sq ft on the 4th and 5th Floors.
Mark Sutton, partner at Knight Frank in Cardiff who acts for the landlord, said:
“The central rail station remains a focal point for many occupiers and South Gate House’s position so close by makes it an attractive and extremely popular option, also benefitting from immediate access to city centre amenities.”
“The building offers all those city centre advantages for occupiers – plus a substantial discount against prime office rents at newly-built offices nearby. With floorplate options from 2,000 sq ft to 8,000 sq ft, South Gate House is a real barometer of the city centre office market and achieving occupancy of 98% shows the strength of the current conditions with requirements for indigenous businesses and a healthy share of new companies coming into Cardiff for the first time.”
South Gate House tenants include the British Medical Journal, Capita Business Services, Phoenix Legal, WE Bridge International, Rondo Media and Lewis Silkin.