Cardiff: A quality of life that sells

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Cardiff must look to attract yet more high value businesses if it wants to achieve a step change in economic growth potential, according to Tuffin Ferraby Taylor (“TFT”), independent property and construction consultancy, in new research published today.

‘Cardiff: how property is helping the city to rise to a new challenge’, the latest research by ThinkBarn commissioned by TFT, explores what Cardiff’s commercial property market can do to enable the city to deliver its ambitious vision for growth.

This includes attracting more high-skilled workers and retaining yet more graduates from Cardiff’s world-class universities. This is what the research paper calls ‘the first stage to achieve a virtuous cycle of growth, particularly from indigenous start-ups who value the local business network and ethos.’

The research paper goes on to highlight that an increase in a range of high quality but affordable office stock is needed in the city centre and Cardiff Bay in order to attract these start-ups and relocating businesses from more expensive, yet connected, areas of the UK. The paper goes on: ‘this will achieve scale, which is needed to facilitate the transfer of ideas and creativity’ – essential across all business sectors.

Establishing critical mass is a consistent theme in the research paper which makes it clear that a range of housing options across tenures for a changing demographic will be needed, alongside underlying infrastructure. The Metroline will demonstrably assist in opening up more affordable residential areas for commuters. However, further improvement to the city’s infrastructure is essential.

John Newton, Partner, TFT Cardiff, said:

“What this research brings home is how Cardiff, perhaps uniquely, offers a holistic combination of an affordable and entrepreneurial business backdrop, accessibility and lifestyle for a younger generation, who have higher aspirations for their overall work/life balance. As the paper says: quality of life sells.

“For 20 years we have offered our property and construction services in Cardiff, and it has been a real privilege to watch Cardiff grow and flourish. It’s absolutely clear that we must push on with significant investment in the city’s transport infrastructure as well as building a range of affordable homes that connect people into high-quality work environments.”

To download the report, please click here