Macfarlanes advises Legal & General on £400m Cardiff Central Square development
Contracts have been exchanged on the final phase of the site’s redevelopment which will include 318 build-to-rent (BTR) apartments, the largest BTR provision in Wales, 100,000 sq ft of office space and a new bus station. This part of the project is being built in partnership with the Welsh government and Rightacres Property.
At over 500,000 sq ft in total, the site already has two large office spaces funded by Legal & General with occupiers including Credit Suisse Asset Management and the UK government.
Mixed use schemes in the South West such as Central Square follow Legal & General’s aim for providing high quality, affordable housing on long-term flexible leases alongside work spaces and infrastructure improvements.
The Macfarlanes team was led by real estate partner Anthony Burnett-Scott with assistance from real estate senior solicitors Bethan Ellis-Jones, Jim Roberts and Karen Maher and solicitor Charlotte Youngs. Tax advice came from tax and reward senior counsel Kirsten Prichard Jones and senior solicitor Sarah Shucksmith, with competition expertise provided by competition senior counsel Fiona Beattie.
Anthony Burnett-Scott comments: “We are really pleased to have advised Legal & General on this exciting mixed use project”