Knight Frank - At the heart of Cardiff’s growing waterfront

Posted by Knight Frank Newcastle on 24th May 2019 -

Client: Aviva Investors

Building Size & Use:  500,000 sq ft of Grade A office accommodation (outline planning consent for an additional 500,000 sq ft) with a small element of retail and 1238 space, multi-storey car park.

Appointment: Property Asset Management commenced June 2004

Rent Rol:l £7,250,000 pa

Service Charge: £1,345,600 pa

THE BRIEF

At the heart of Cardiff’s growing waterfront, the office accommodation is spread over seven buildings that house over 25 different companies, ranging from the National Assembly for Wales and KPMG, to Ofcom and the British Medical Association. Cardiff Waterside’s newest speculatively built office building, 3 Assembly Square, completed June 2009. Knight Frank is the discretionary asset manager for the Cardiff Bay Partnership (Aviva Investors) who is the sole owner of Cardiff Waterside. The role includes coordinating the master planning, working on the brand image and promoting a tenant focused environment. As asset managers, Knight Frank has coordinated a multi-disciplinary team (both in and out house) and provided a single point of contact for the client.

ACTIONS AND OUTCOME

Property Management, including rent collection, service charges, PPM programmes, tenant liaison initiatives and the management of the on site estates team. Asset Management, including re-gearing leases, rent reviews, lease renewals, leasing, disposals and acquisitions. Knight Frank works closely with tenants to generate added value, protect income and setting annual business plans. Management of the car park, providing detailed quarterly reports and driving out income and marketing opportunities. Development management of 3 Assembly Square and the multi-storey car park.