L&G secures second RIO deal.
Legal & General announces that it has entered into a joint venture partnership with Cardiff-based developer, Rightacres, to deliver the Central Square masterplan designed by Foster + Partners, one of the City of Cardiff Council's priority regeneration schemes.
The prime 12-acre mixed-use city centre regeneration scheme is set to create over 10,000 local jobs and facilitate significant economic growth.
One of Wales' prime development sites, located immediately to the north of Cardiff's central train station, the regeneration of Central Square will comprise one million sq ft of space in the heart of Cardiff city centre and is expected to become the focal point of the city's Enterprise Zone.
The first phase of the project includes the development of two buildings - the proposed 150,000 sq ft BBC Wales HQ and One Central Square, a 135,000 sq ft office development that is part pre-let to national law firm, Blake Morgan, and due for completion in January 2016. Further phases will include a mix of commercial and residential buildings.