Why you should consider Cardiff as your new business hubDate Posted: 09 March 2020
Cardiff has long been the central hub for business, retail and leisure in Wales but is fast becoming a recognised contender for businesses and investors across the UK and Europe.
To help you make the best decision for your business, we’ve put together an article discussing the reasons why you should consider Cardiff for your next business move.
Lower rent and living costs
Compared to London, the cost of living in the capital of Cardiff is a fraction of the price, whilst still offering residents the leisure, retail and employment opportunities expected of a capital city. The average cost of living in Cardiff is estimated at being 38% cheaper than in London, allowing a more positive work/life balance for employees as each £ earned goes further.
The cost savings are similarly vast when looking at business premises, with the current headline Grade A Office Rent in Cardiff being c. £25 per sq ft. This is a 29% discount to Bristol and a 32% discount to Manchester and pales in comparison with London West End (c. £105 per sq ft) and the City (c. £72.50 per sq ft).
Close university employment links
With both the Russel Group Cardiff University and Cardiff Metropolitan University being based in the city centre, there is a strong pool of talent for employers. Cardiff rates highly among young workers, with its vibrant social scene, relatively low cost of living compared with other UK cities and variety of job opportunities. In 2019 Cardiff was rated the most affordable city for students to live in by the Natwest Student Living Index.
Cardiff’s employers, thanks to close links with the universities, are able to recruit from the brightest new talent. This is also helped by graduates continuing to live in Cardiff during their search for employment.
The challenge for the property sector is to adapt to meet the demands of a younger, more socially mobile workforce. The future workspace will need to be more flexible to accommodate the technology savvy “millennial” and “Generation Z” demographics, with remote and collaborative working already accepted practice.
Herbert R Thomas’ Cardiff Office have close links with property developers, investors and occupiers and as such are able provide a broad range of advice on current market trends.
Find out what HRT could do for you
Growing media and technology sectors
Already home to S4C, ITV, Pinewood studios and the recently relocated BBC Cymru who have taken a flagship new-build headquarters opposite Cardiff Central Station, Cardiff has a well established and growing media sector. Also expanding is Cardiff’s technology sector, with new tech companies such as challenger banks Monzo and Starling Bank investing in new offices in the Welsh capital.
We also offer commercial valuations!
City centre developments and investments
Cardiff city centre has seen an unprecedented period of development that has seen high profile Grade A office schemes such as Central Square, Callaghan Square and Capital Quarter attract major occupiers to the area surrounding Cardiff Central Station and drive office rental values up. The next major development project will be Central Quay on the site of the former Brains Brewery, to the south of Cardiff Central Station. Once complete the scheme which will provide c. 1,000 new residential units on the banks of the River Taff as well as several Grade A office buildings and retail units opening onto a public plaza.
The new development projects have helped to attract high level investments opportunities to Wales’ capital with headline grabbing deals including the purchase of Admiral’s HQ building in 2018 for c. £86.7 million, One Central Square for c. £51 million in 2017 and Two Central Square for c. 56.5 million in 2018.
The Welsh Government is already into its first year of transforming the country’s train and transport networks providing better connectivity to Valleys and South Wales commuters through the South Wales Metro project.
Why Herbert R Thomas?
Our new Cardiff city centre office is home to a broad spectrum of professional property advisors who can provide advice on a wide range of property assets.
The team have a proven track record of providing focused, strategic consultancy and can offer Director-led services including agency, valuation, landlord & tenant and asset management in the following sectors;
Contact our Cardiff branch for help with your next business move.