5 Callaghan Square in Cardiff secures two significant letting agreements, boosting its city centre office credentials.
- Teneo Strategy and Environmental Resources Management are the new tenants at the prominent 5 Callaghan Square building.
- The property is part of the second phase of development within the Callaghan Square area, expanding its commercial appeal.
- Knight Frank has successfully executed the marketing strategy for the property, leading to these new lettings.
- The building owner, Capital London Investment Management, sees these agreements as a positive return on investment.
A landmark development in Cardiff’s city centre, 5 Callaghan Square, has secured leases with two prominent firms, signifying a notable advancement in the commercial property sector. The building, which is managed by Capital London Investment Management, is increasingly becoming a hub for significant business operations.
Environmental Resources Management (ERM) and Teneo Strategy have agreed to occupy spaces within this prime location. ERM has opted for a five-year lease on a 2,595 square foot office suite, negotiated at an annual cost of £26 per square foot via Lambert Smith Hampton. Meanwhile, Teneo Strategy has shifted from its previous premises at Brunel House to a larger suite within Callaghan Square, committing to a ten-year lease for 2,204 square feet.
The renovations at 5 Callaghan Square have enhanced its appeal, facilitated by the adept marketing strategies employed by the Cardiff office of Knight Frank. These changes include an upgrade of the building’s main reception and the creation of three new office spaces on the second floor. Current availability includes refurbished suites of 1,049 and 2,994 square feet, with an upcoming release of 19,758 square feet next year.
Mark Sutton, from Knight Frank’s Cardiff office agency, emphasises the bespoke nature of the office offerings and points out, “This latest refurbishment and flexibility to create three new offices on the second floor follows a recent upgrading of the building’s main reception.”
Roxine Foster from Lambert Smith Hampton remarked on the suitability of the premises for ERM, highlighting the building’s compliance with ESG and sustainability standards, making it a fitting choice for ERM’s expansion needs. ERM’s transition to the new office space is near completion, aligning with their strategic growth objectives.
The 5 Callaghan Square project is a component of a broader development initiative, augmenting Cardiff’s position as a critical commercial centre. Anthony Rajwan, director at Capital London Investment Management, expressed satisfaction with the ongoing investments and the strategic collaborative efforts with Knight Frank, noting the increasing demand for high-quality office space.
The successful letting of 5 Callaghan Square underscores its status as a premier location for business in Cardiff, marking a significant step forward in the city’s commercial property development.
