Recruitment industry finance specialist Sonovate has expanded into new offices on the fourth floor of the landmark 101 Cardiff building on St Mary Street in central Cardiff.
Sonovate is the UK’s fastest-growing provider of finance to recruitment agencies. From bases in Cardiff and London, it works with over 1,000 active clients and pays thousands of contractors on their behalf each week.
Sonovate was advised by commercial property consultancy Knight Frank in the transaction and took a five-year lease on the 6,461 sq ft. fourth floor of 101 Cardiff, moving from offices in Greyfriars Road, Cardiff. Landlord 101 Asset Management Limited was represented by Savills.
Mark Sutton, partner in the office agency team of Knight Frank in Cardiff said: “Sonovate is a fast-growing technology business and co-founders Richard Prime and Damon Chapple were seeking premises that would accommodate their rapid expansion as well as reflecting the nature of the business – 101 Cardiff was a stand-out option for them.”
The recent refurbishment of the former Golate House office building, now rebranded 101 Cardiff, provides a stripped-back style, with concrete ceilings and exposed columns. High quality fixtures and fittings such as the latest LED lighting are balanced with recycled vintage lighting from Eastern Europe and the high-quality German carpet is the same as that used in the Google headquarters in London.
Damon Chapple, joint CEO of Sonovate said: “Our business has gone from strength to strength and with FTE numbers increasing to 77 we needed to find a new home for the business in Cardiff city centre. 101 gave us exactly the type of space we were looking for.”
Following the letting to Sonovate there is 6,450 sq ft remaining on the refurbished 3rd floor of 101 Cardiff and with the potential to subdivide the floor to create opportunities for occupiers of 2,500 sq ft and 3,500 sq ft.
Gary Carver of Savills who acted on behalf of the landlord said: “We are seeing increasing pressure on the supply of high quality city centre offices, with only 1 year’s supply of Grade A space currently available. 101 Cardiff offers occupiers a ‘defurbished’ style at rates well below the latest new office buildings being developed nearby and the remaining space is already attracting a flurry of interest and viewings.”