Legal & General has exchanged contracts to complete Cardiff Central Square, in partnership with the Welsh Government and Rightacres Property.

Comprising over 500,000 sq ft, it is the final major element of the £400m regeneration scheme and will include a new Bus Station, 318 Build to Rent (BTR) apartments and 100,000 sq ft of Grade A office space.  

Dan Batterton, Head of Build to Rent at LGIM Real Assets, said: “With Cardiff’s population expected to grow significantly over the next 20 years, increasing pressure is being put on its housing provision and infrastructure. We are delighted today to announce Wales’ largest Build to Rent scheme, which will help to address the growing challenges, offering high quality, affordable homes on long term flexible leases for elective renters. The delivery of high quality developments with vibrant communities is becoming more and more important. This latest project is the perfect example and will have a positive long term impact for Cardiff and the South West more widely, maximising our existing infrastructure and supporting economic growth and job creation.”

Huw Thomas, Leader of Cardiff Council, said: “The building of a new bus interchange has been a number one priority for the council since day one of this administration, reflecting our commitment to delivering more and better jobs for the people of Cardiff and beyond. This will be the final stage of the completion of Central Square, which is the biggest regeneration project in Wales. The Council’s original masterplan for this part of the city is now a reality and we are delighted that through it, thousands of jobs are being created in the Welsh Capital.”

In Bath Quays North, L&G is investing a further £400m into redeveloping a 5.5 acre prime riverside site into a 306,000 sqft office-led, mixed use scheme. It is also delivering 868 Build to Rent Homes in Bristol, Bath and Cardiff and around 300 homes within its first urban retirement living scheme in Bath.