The new No 3 Capital Quarter office building in Cardiff city centre has secured consumer body Which? as its first tenant.
Which? has taken a 15 year lease on the 11,550 sq ft second floor of the office, at a rental of £22.50 per sq ft. It will be the consumer champion’s first office base in South Wales.
No 3 is the latest Grade A office building on the 10 acre Capital Quarter site fronting Tyndall Street, providing 77,931 sq ft of Grade A, BREEAM Excellent office accommodation. It has been speculatively built by independent property specialist JR Smart, which is also constructing the 97,000 sq ft No 4 office building next door.
John Smart, Chairman of JR Smart, said: ““The arrival of Which? at No 3 will add to the list of major companies which have chosen Capital Quarter for their first base in the Welsh capital. It means that in the past 18 months three of the largest inward investors to arrive in Cardiff – Opus Energy, Alert Logic and Which? – have selected Capital Quarter as their new Cardiff home.
“The people at Which? have told us how excited they are about the move to Cardiff, opening up a brand new chapter in the growth of the organisation. They aim to relocate as many of the current team in Hertford as possible but also attract new talent, and view Cardiff as the ideal place to do that.
“With both their Member Service Centre and part of their Which? Mortgage Advisers team set to be based in Cardiff, the new premises at Capital Quarter will allow Which? to create an outstanding customer experience hub to support its members and customers. This will enable Which? to deliver an even better service in supporting UK consumers now and in the future.”
Mark Sutton, of property consultancy Knight Frank, said: “Which? considered a number of buildings in Cardiff, and Capital Quarter proved the stand out choice, providing a brand-new energy efficient office building, first class facilities and a central, accessible location allowing Which? to attract the talent for its new Cardiff operation.
“No 3 and No 4 Capital Quarter are the only Grade A buildings being delivered in Cardiff before the end of 2019 and we are receiving strong interest for the vacant space in the two buildings from a number of different occupiers, both Cardiff-based and more inward occupier interest.”
Leader of Cardiff Council, Cllr Huw Thomas, said: “Congratulations to Capital Quarter in attracting Which? to the city. This decision means we will have another major employer coming to Cardiff, adding to the ever growing list of companies that are choosing the capital.
“Our Capital Ambition makes a clear commitment to deliver continued growth and to develop the city centre as a location for businesses and investment. Which? relocating to the city’s Capital Quarter provides another clear sign that Cardiff is thriving, growing and developing.
“I am delighted to see major companies such as Which? sharing our confidence in the capital of Wales, providing opportunities not just for the people of Cardiff, but also for those living in the wider city region.”
Which? is the largest independent consumer body in the UK with more than 1.5m members and supporters. The Which? brand belongs to the Consumers Association, a not-for-profit charitable organisation.
As well as the speculative construction of the No 3 and No 4 office buildings, which total 170,000 sq ft, JR Smart has already built more than half a million square feet of new development at Capital Quarter. Office tenants in No 1 and No 2 Capital Quarter include Finance Wales, Network Rail, Public Health Wales, Opus Energy, Lambert Smith Hampton and Atkins.