Repurposing a Commercial Building in Wales: The transformation of Scott Harbour in Cardiff Bay

Posted by Knight Frank Newcastle on 18th December 2024 -

The Scott Harbour office complex, built in 1997 and spanning 90,000 sq ft, had reached a point where major investment was required for refurbishment. With the market in flux at the time, the building’s owners were hesitant to invest in upgrades. However, due to its large floor plates and prime location in Cardiff Bay, the building was well-suited for residential conversion. This adaptive reuse proved a more viable solution than maintaining it as office space.

What made this repositioning project successful?

Several factors contributed to the success of this repositioning project:

• Adaptability - The building’s layout made it an ideal candidate for residential conversion.
• Location - Its central location in Cardiff Bay attracted residential tenants, creating a solid market demand.
• Economic viability - The appraised value of residential units justified the investment.

Adding value for the owners and the community

The conversion created significant value for both the owners and the local community. The project offered the owners a financially sound alternative to leaving the building vacant or investing in an uncertain office market. For the community, the influx of residents provided economic benefits through increased foot fall and support for local businesses.

 

Collaboration and planning

Collaboration with local authorities and the community was crucial to the project’s success. Cardiff’s local authority had to be convinced that the office space had reached the end of its economic life before approving the residential conversion. Securing community support was also a key part of the planning process, ensuring the project would benefit the local area.

ESG considerations

ESG considerations played a crucial role in this redevelopment and were a key priority for the local authority, funders, and the project’s owners and tenants. As with many repositioning projects, the reuse of an existing structure reduced the environmental impact.

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