Buyers sought for landmark Cardiff building

Avison Young has been appointed to market The Howells Building on behalf of the Receivers.

One of Cardiff’s best-known city centre properties is being brought to market by Avison Young on behalf of the Joint Fixed Charge Receivers, NJ Pask and RJ Goode.

The Receivers were appointed over The Howells Building before Christmas and the freehold is now being formally marketed for sale following the easing of Covid-19 restrictions.

The distinctive Grade II* listed building in Cardiff’s retail heart extends to 275,000 sq ft on a 1.72 acre site.

The Howells Building, 154 years old, housed the former Howells department store before it was rebranded as House of Fraser in 1972. The original stone façade on St Mary Street, which was constructed in the 1800s, still remains. The Bethany Baptist Chapel is situated in the middle of the building.

The site fronts St Mary Street, Wharton Street and Trinity Street, and is located within Cardiff’s prime shopping district, within walking distance of The Principality Stadium, Cardiff Castle, Motorpoint Arena and Cardiff Central Station.

Tom Merrifield of Avison Young in Cardiff says,

“This is a landmark building for Cardiff. Grade II* listed, it is in the heart of the city’s retail district. Cardiff is undergoing a transformation with a raft of inspirational development, creating a renewed sense of place. The opportunity that this site presents for the city with a forward-thinking developer who appreciates the importance of sensitive restoration is immense, bringing continued rejuvenation to this part of Cardiff.”

Avison Young has already been receiving considerable interest in the site from developers and will now be marketing the property as lockdown restrictions ease.

The property is being offered for sale by informal tender and interested parties are being asked to submit offers in writing to Avison Young by 5pm on Thursday 15 October 2020.

The real estate adviser – which has successfully sold heritage buildings including the Old War Office in Whitehall, and the18th century Royal National Hospital for Rheumatic Diseases in Bath, is optimistic a buyer will be found.

Tom continues, “We’re looking for a developer who can respect the heritage of the building whilst bringing it back to life. That may include retail, leisure or residential with the appropriate planning consent.”

House of Fraser, now part of Sports Direct International plc, continues to trade within the building, currently occupying 227,000 sq ft. Wallace Properties Ltd began implementing redevelopment plans for the property before entering administration.