Fidelity UK Real Estate Fund submit plans for substantial Cardiff office refurbishment

Fidelity UK Real Estate Fund, owner of Fusion Point 1, Dumballs Road have submitted a planning application for the comprehensive refurbishment and extension to the existing 65,000 sq ft city centre office building. The refurbishment will provide a state of the art office environment with the benefit of new mechanical and electrical services, including a heating, cooling and ventilation system as well as enhancing key sustainable credentials. These will include targeting top EPC’s and BREEAM certification, externally landscaped break out and seating areas, extensive bike parking, shower facilities and EV charging points.

Ewan Montgomery, Portfolio Manager, UK Real Estate at Fidelity International said “We are committed to maximizing the potential of the Cardiff assets held by the Fund and we are very excited about the opportunities that this project presents. We see our planned refurbishment as an opportunity to provide a Grade A office environment with new facilities and much improved energy efficiency into a market that lacks this quality and size of accommodation.”

JLL and Fletcher Morgan have been appointed as the joint letting agents for the scheme and Paragon have been appointed to project manage the refurbishment and extension. SEAM are the appointed architects.

Rhydian Morris of JLL Commented “We are delighted to have been appointed as joint letting agents on this scheme and we are optimistic that the high quality specification will attract significant pre-let interest during construction. The occupier focus continues to be for a city centre location and Fusion Point 1 benefits from being within a five minute walk, of the main city centre amenities, including the central railway station.”

The new external elevation will transform the building, which will also create an impressive two storey atrium above the reception area. This re-design will complement the large open plan floor plates of circa 18,000 sq ft and the bespoke occupancy density of 1 person to 6 sq m.

John James of Fletcher Morgan Said “We are pleased to be appointed on this project, which follows on from our recent substantial letting to Deloitte for Fidelity UK Real Estate Fund of their neighbouring Fusion Point 2 building. With Grade A city centre office supply at an all time low there is definitely an opportunity in the market and this exciting energy efficient office is well placed to take advantage of the supply gap, as it be will ready for tenant occupation in August 2020.”