12-14 Drake Walk - Development Land At 0.63 Acres of Commercial Land Offered at $1,323,300 in Cardiff CF10 4AN

Description The site has an area of approximately 0.23ha and is located within the Waterfront 2000 office development, an established office development providing a mix of 3 and 4 storey office buildings. The site is bounded by offices to the north, east and south and residential to the west, separated by a dock feeder. The site is currently landscaped with a large number of trees and shrubs. The western half of the site is adopted highway and forms part of the network of landscaped walking and cycling routes linking Herbert and Tyndall Street with Schooner Way, Lloyd George Ave. and Cardiff Bay to the south. The site also includes a currently closed footbridge over the Dock Feeder linking the site to Craiglee Park on the west side of the Canal and the development of flats fronting Lloyd George Avenue. Planning The site has the benefit of full planning permission dated 19 August 2020 for the development of a six storey block of 77 serviced apartments plus ground floor amenity/commercial. A copy of the planning consent can be found on the Cardiff Council planning portal (Ref: 18/01280/MJR). The development has a gross internal floor area of 27,470 sq. ft. The planning permission granted also includes works required for the re-routing of the public riverside walkway and the renovation of the existing dock feeder footbridge. Section 106 financial obligations total £101,676. A application to the existing planning was subsequently made on 18/10/21 to vary the planning to a 6 storey aparthotel with 69 units and ground floor commercial/amenity space. A decision is pending. Local information The site is situated adjacent to 12-14 Drake Walk and lies at the western boundary of the established Waterfront 2000 office park. It is ideally located, being only a short walk from Cardiff Central railway station as well as St David’s 2 shopping centre anchored by John Lewis. Waterfront 2000 is also easily accessed by car being just off the A4232 which links directly into Cardiff Bay and J33 of the M4. The immediate surrounding area has benefitted from a number of large scale developments in the last 5 years including over 300,000 sq. ft. of grade A office space in the Capital Quarter scheme, located immediately to the north of the site, which also includes the Lumis Student Living student accommodation development of 500 studios together with a PRS scheme.