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Cooke & Arkwright
news 2016 issue 1

Photo of Cardiff Bay & city centre

momentum needed on city deal

Cooke & Arkwright is looking forward to another decade of growth after passing a landmark 115 years in the commercial property sector in 2015, a year in which Cardiff increasingly became the target of attention from global business and investors.  As we gear up for the next twelve months, the Chancellor’s urgent message during his visit to Cardiff on 7 January, in which he challenged leaders to just ‘get on with it’ so that a City Deal can be signed by March, has been welcomed. It is seen as a ‘once-in-a-lifetime’ opportunity to transform the economy of South Wales and help the region to fulfil its full potential, and it is crucial that the momentum is not lost..

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Artist's impression of Plasdwr landscape corridor

cardiff to be world class european city

The vision of Cardiff’s Local Development Plan was set out in the 10 year ‘What Matters’ Strategy (2010-2020) which states: ‘By 2020… Cardiff will be a world class European capital city with an exceptional quality of life and at the heart of a thriving city-region’. Now, 20 years after the last development plan was approved, Councillors in Cardiff have finally adopted the city’s new LDP which formally allocates the delivery of up to 41,400 new homes, offices, transport improvements including walking and cycling routes, schools and allotments. With a current population of around 350,000 and growth projections of 3,500 people annually, plus 1.4m people living within a 45 minute drive and nearly 77,900 people commuting into the city each day, a plan-lead approach is seen as vital to fulfil the city’s needs and its aspirations for the future.

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Image M4

m4 needs life-changing surgery to avoid arresting development

The strategic plan for the £1bn M4 Corridor around Newport was announced by the Minister for Economy, Science and Transport in July 2014. The preferred route joins the existing M4 at junctions 23 and 29 and includes two proposed new junctions, one at Glan Llyn, to serve housing development, a business park and Llanwern railway station – to connect to the proposed Cardiff Capital Region Metro; and another at the Docks Way junction to connect to the A48 Southern Distributor Road and provide access to central Newport and the docks. There will also be a 2.5km cable-stayed viaduct crossing of the River Usk. Ben Bolton, Director of Business Space comments: “The M4 around Newport is a constant source of frustration to commuters and businesses entering or leaving South Wales.

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Photograph of Atradius office interior

Leading insurer relocates in birmingham

Following an extensive property search in the city centre and in the Edgbaston district of Birmingham, Cooke & Arkwright has secured newly refurbished offices for leading global trade credit insurer, Atradius Credit Insurance.  The 2,560 sq ft Grade A offices on the first floor of 10 Harborne Road in Edgbaston, have been acquired from The Woodborne Group on a ten year lease. Atradius is relocating from nearby Hagley Road, following lease expiry, to the upgraded accommodation where they will benefit from reduced overheads through energy efficiencies, as well as a layout more suited to their office and staff requirements.

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Image of Cardiff offices

Cardiff office market's bumper year

Figures released by Cooke & Arkwright's Business Space team show that more than 617,000 sq ft of office space was let in 2015, up 14% on 2014. Associate Tim Lawley comments, "2015 was a bumper year with two major deals made in the final quarter, and with several high profile deals expected to complete this year we expect this upward trend to continue for 2016.The highest year we have on record was in 2011, with around 652,000 sq ft let, which included the 195,000 sq ft to Admiral in the city centre.

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principality stadium launch lights sky

Principality Stadium, Cardiff's newly renamed Millennium Stadium, was officially launched under a blaze of fireworks on Friday 22 January. Wales coach Warren Gatland switched on the new sign and Welsh Rugby Union chairman, Gareth Davies and Graeme Yorston, Principality group chief executive, made speeches marking the beginning of a ten-year partnership between the WRU and Principality Building Society.  Former Welsh rugby internationals Mark Taylor and Ryan Jones took part in a Q&A session hosted by Gethyn Jones.

Philip Angell, Director at Cooke & Arkwright, was a guest at the event - the firm has provided rating, valuation, retail, and landlord & tenant advice to Principality Building Society, and rating advice to the WRU and the Millennium Stadium plc for many years. "I saw Mark Taylor score the first try here and look forward to seeing many more Welsh tries at this fantastic stadium. We wish the WRU and Principality every success in their new partnership."


Image of The Maltings at night

Expansion under way at landmark maltings as demand grows

Serviced office provider, The Maltings is undergoing a second major phase of expansion and refurbishment to provide an additional 25,000 sq ft of office space on two upper floors of its iconic, 18 floor, Grade II listed Victorian Malt House in East Tyndall Street, Cardiff. They will range from serviced offices for between one-to-four persons, and self-managed offices sized from 1,000 – 2,000 sq ft, to be ready for occupation between late spring and early summer 2016.

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Photo of St Ann's Head lighthouse cottages

rooms with views when lighthouse properties become holiday cottages

A terrace of former lighthouse keepers’ cottages at St Ann’s Head on the Pembrokeshire Coast National Park, are to be given a new lease of life and restored as holiday cottages after being purchased from Trinity House. The new owners are to redevelop the five cottages in Dale, which have panoramic views out to sea and towards the entrance to Milford Haven waterway, one of Britain’s deep water harbours.

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Image of unit on Penarth Road

fordthorne expands on penarth road

Ford main dealer Fordthorne has purchased the 16,300 sq ft former TB Davies industrial building on Penarth Road, Cardiff, advised by Cooke & Arkwright. The detached industrial warehouse unit occupies a half-acre site near to Fordthorne's main car showroom premises on Penarth Road. The new unit will be adpted and refurbished to create a commercial vehicle showroom and workshops. TB Davies, advised by Knight Frank, has invested in new premises in Cardiff Bay. Jeremy Symons who advised Fordthorne comments, "Fordthorne is creating a new Transit Centre Showroom and workshop, and creating an additional 15 jobs.


Photo of Tathan Hall

Former rectory offers development potential

A Grade II listed former rectory in St Athan in the Vale of Glamorgan, now in need of renovation and refurbishment, presents an opportunity for a range of re-uses including potential development to provide new build accommodation within the village. Set in generous grounds accessed by a private driveway, the large detached property was also known as Balfour House when it was converted for use as a school in the 1960s.

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500 deals mark 115th landmark anniversary

Cooke & Arkwright celebrated its 115th anniversary as 2015 concluded another successful year in which clients were advised on almost 500 deals across retail, offices, industrial, rural, development land and investment sectors, and over 500 business rate appeals were agreed. Significant deals included the investment acquisition of Helmont House in Cardiff for £34m, securing business rate savings of almost £3.5m between 2005 and 2017 for the Millennium Stadium, and advising on business rates for all major South Wales stadia. We were retained as letting agents for the £100m Friars Walk Shopping Centre in Newport and our Retail team were also retained agents for a number of high profile businesses in South Wales including Starbucks, Burger King and Greggs.

The Crown Estate reappointed the firm’s Land Agency as managing agents of its coastal portfolio in Wales for a further five years, and it is currently involved in the negotiation of the regulating lease at Saundersfoot Harbour, where a £4m redevelopment is under way. We have also been successfully appointed to the National Procurement Service (NPS) for Wales for Construction Consultancy Services Framework – Estates Professional Services, and as Regional Property Consultant on all four discipline areas of the Network Rail Property Consultancy Services Framework for Wales which runs to 2020.

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Cooke & Arkwright is a trading name of Cooke & Arkwright Ltd. Registered in England and Wales No 2618062. Coark offer Retail, Office, Industrial, and Rural properties. Registered Office: One Central Park, Western Avenue, Bridgend, CF31 3TZ. Cooke & Arkwright is regulated by the Royal Institution of Chartered Surveyors.
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