BT Group took 65,000 square feet in the centre of Cardiff to use as a hub for up to 900 employees in the city and wider region at 3 Capital Quarter, a move that won the deal a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the market.
The office will be in the new Capital Quarter development in the centre of the city, owned by Mayfair Capital's Property Income Trust for Charities. The new workspace and contact centre at No3 Capital Quarter will be one of around 30 new modern BT locations in the UK, the telecoms group said.
Mayfair Capital’s Property Income Trust for Charities bought 3 Capital Quarter in 2019 for £27 million, according to CoStar data.
About the project: The office was completed in 2018 by JR Smart and forms part of an eight-acre mixed use development, including 370,000 square feet of offices, 1,200 student beds and a 307 unit build-to-rent residential tower.
What the judges said: All three spoke about the job creation resulting from the deal. Owen Young, partner, agency and development at property consultancy Alder King added that the building would have remained vacant for some time, while John James, director at chartered surveyor Fletcher Morgan, pointed out it was the city's "largest office letting in 2022, in a very difficult post-pandemic office market". Kathryn Williams, managing director of KEW Planning. added that the building's design was "innovative and impressive".
They made it happen: Huw Thomas, director of Huw Thomas Commercial Property Consultancy represented assignee Admiral, while Rhydian Morris, director of office agency at JLL represented BT.
