17th April 2018
BizSpace makes Wales debut
BizSpace, the largest provider of flexible workspace with offices and workshops across the UK, has acquired its first business centre in Wales for £6 million.
Located at Fitzalan Place in Cardiff, Trafalgar House is a landmark five storey building built in 1983, totalling 52,000 sq ft. The office building currently has 15,828 sq ft of vacant space, with an additional 4,760 sq ft becoming vacant in October 2018.
The vendors, advised by Alder King and Cooke & Arkwright, have recently spent £1.2 million on upgrading the office building’s common parts and renewing the air conditioning system. BizSpace has committed to investing £2.7 million into further refurbishment works at Trafalgar House, which will take place over the next three years.
Owen Young, partner at Alder King in Cardiff, commented: “Located in the heart of Cardiff’s business district and offering first-class accommodation, Trafalgar House will provide an excellent location for Cardiff’s thriving SME economy.
“Occupiers are pushing for shorter and more flexible leases and this in turn is driving demand for serviced offices. Furthermore, we are witnessing increased demand for smaller suites as evidenced by lettings over the last few weeks at 2 Deryn Court, Pentwyn (846 sq ft), Vision House, Cardiff Gate (2,105 sq ft) and Castleton Court, St Mellons (1,289 sq ft).”
Emma Long, Commercial Director at BizSpace, commented: “BizSpace is proud to champion the UK’s entrepreneurs and SMEs and we’re looking forward to providing the city with a fantastic space for its emerging businesses. Cardiff boasts a burgeoning SME market, which shows no signs of slowing, however it is lacking in good quality flexible workspace. Whilst a number of older office buildings have been converted into student housing or other residential properties, smaller businesses are finding it increasingly difficult to find the right space to suit them.
“Trafalgar House occupies a prime city centre location, offering plenty of natural light and excellent views. Over the next couple of years, we have committed to investing more than £2 million into its refurbishment, ensuring that we provide our customers with the right space to suit them as well as first-class amenities and services, which occupiers have come to expect.”
Owen Llewellyn Jones, Councillor for Adamstown, Cardiff, said: “I’m very happy that BizSpace has chosen Cardiff and Adamstown as their first Welsh base. The demand for flexible working space is growing all the time and it’s great to see this investment in Trafalgar House. Cardiff is a city full of entrepreneurial talent that has close links with excellent universities. Combine this with the development of this space and the area has huge potential as an innovation hub.”
Located in the heart of the city’s business district, Trafalgar House is a short walk from Queen Street Railway Station, as well as the new St David’s shopping development at Bridge Street Arcade. Trafalgar House has on-site car parking spaces and good transport connections, with access to the M4 through Newport Road and Central Link.