As sentiment improves in the commercial market, Emvic Developments is one of only a handful of developers able to provide much needed city centre Grade A office space. Work is currently under way to extend and redevelop 53 The Parade in Cardiff to provide 4,200 sq ft of high quality offices. Completion of the period building, which is in a Conservation Area, is anticipated in early July and will include security access and parking for six cars.
Ben Bolton, Director of Cooke & Arkwright’s Business Space who is marketing the property said, “There is a clear desire in the market for Grade A space and recent, high quality small scale builds and refurbishments have been snapped up quickly, achieving close to the headline rent for the city. Similar properties such as 18 Park Place and 20 Windsor Place stand out, both of which pre-let all their space prior to completion of the building work. We anticipate keen interest from potential tenants in The Parade, which will be a statement building with high quality accommodation located in a prominent position.”
He added, “Regional office schemes have experienced a sharp rise in investment values in recent months as many property funds look outside the increasingly over-heated south east. As yet, occupier demand is still playing catch-up. It has improved considerably in recent months, but for these niche schemes, tenants have always been available.”
