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Looking out over the skyline of Cardiff it really is encouraging to see so many cranes at work.

In a sure sign of strong investor and developer confidence new commercial developments are taking shape across the city; notably at the Central Square and Capital Quarter developments.

And there are plenty of exciting projects in the pipeline, including hopes that the historic Mount Stuart Square area in Cardiff Bay, once the commercial heart of the capital, could be revived starting with a redevelopment of the listed and now derelict Coal Exchange Building.

Central Square

The ambitious Central Square project is being driven by Cardiff-based commercial property development Rightarces Property, which could see some one million sq ft of new office, residential and retail space built around Cardiff Central Train Station over the next five years.

The first building, the 135,000 sq ft 1 Central Square, is nearing completion. And there is strong tenant interest in the building, which has already secured its first tenant in law firm Blake Morgan which will move into its new offices early next year.

Subject to final approval from BBC executives in London, work could start later this year on a new 150,000 sq ft new headquarters for BBC Cymru Wales at the heart of Central Square.

Despite a slight delay in the business case being signed off, the first BBC Cymru Wales staff could move into the new HQ in late 2018.

The landmark project, designed by world leading architects Foster + Partners, will be located on the site of Cardiff bus station, which has now closed.

Other developments at Central Square

Rightacres is current working up plans for No 2 Central Square, a 120,000 sq ft office scheme.

And it has also confirmed the £150m Interchange project, again designed architectural firm Foster + Partners, earmarked where Marland House and the NCP car park are located at Central Square.

As well as serving as a transport hub, including a new bus station and a covered link into Cardiff Train Station, the 450,000 sq ft scheme could include:

* A 150 bedroom hotel

* 200 private residential apartments.

* Retail and food outlets on the ground floor around the new bus station

* 300 car park spaces for tenants underground

A planning application for the Interchange is expected to be lodged with Cardiff council in December.

Subject to approval work could start next spring with a completion of date of late 2017 or early 2018.

Next phases at Central Square could see a mixture of hotels, offices, retail and residential.

There is currently interest from a hotel operator for the St David’s House site at Central Square.

Capital Quarter

Capital Quarter is a commercial development in the centre of Cardiff being developed by family-run property development firm JR Smart.

Work is nearing completion on 2 Capital Quarter, a 85,000 sq ft grade A office scheme.

No 1 Capital Quarter, which was acquired in 2013 from JR Smart by the Welsh Government in a £15m deal, is close to being fully let with tenants in the 75,000 sq ft building including Finance Wales and Alert Logic.

JR Smart also has plans for a 23 storey apartment complex at the eight acre scheme.

Related story : Investment deal for Capital Quarter's first office developments.

Access to Capital Quarter was recently boosted by a new bridge - the Smart Bridge - over the Great Western Mainline, into the retail centre of the city.

Cardiff Train Station

Network Rail Wales has ambitious plans to transform Cardiff Central Train Station, which if approved would see it revamped into a 21st century transport hub with new retail outlets.

It is hoping that its proposals will be approved by the UK Government’s Department for Transport in its next rail investment period, so called control period six from 2019-24.

Cardiff Train Station passenger numbers 13 million 2013 passenger numbers 22 million 2023 32 million 2043 Cardiff Train Station passenger numbers

However, it will be in competition with rail projects bidding for funding from across the UK, so getting approval is far from being a done deal.

There is also potential for office developments on the current car park site Network Rail owns on the south side of the station, potentially as much as 400,000 sq ft.

However, Cardiff council could acquire the site from Network Rail to realise plans for a 13,000-seater indoor arena on the site.

For such a project it would also have to acquire the adjoining SA Brain & Co Brewery site.

Related story: How a deal with SA Brain could be struck.

Westgate Street Plaza

This is still very much early days, but the Welsh Rugby Union has outlined a vision to transform the main gateway into the Millennium Stadium.

If approved, the project would see a 100-bedroom luxury hotel, offices and apartments built overlooking a new walkway into the iconic rugby ground off Westgate Street.

The WRU is planning 240,000 sq ft of commercial developments on the land it owns around the Westgate Street entrance of the stadium.

The project – designed by Alan Francis of Cardiff and London architectural practice Gaunt Francis – could be completed before the end of 2018.

Mount Stuart Square

The historic area of the city was once the commercial hub of the capital during the heyday of the South Wales coal industry.

But there are now hopes that the listed but derelict Coal Exchange Building, where the world’s first million pound deal was done, could be brought back into commercial use.

A number of developers/operators, including a boutique hotel operator and residential development companies, have come forward with plans to bring the building back into use.

It is hoped, potentially as part of a wider master plan for the area, that it could act as a catalyst for bringing other currently empty and historic buildings in and around Mount Stuart Square back into commercial use.

Porth Teigr

Spanning over 38 acres in Cardiff Bay, Porth Teigr is master planned to cater for creative, office, hotel, retail, leisure, and residential uses. It is one of Europe’s most significant waterside development projects.

With more than a million sq ft of commercial development space planned, it is a joint venture between Igloo and the Welsh Government.

It is currently home to the BBC drama village and the Dr Who Experience attraction, as well as the Welsh Government’s creative industries Gloworks developments, whose tenants include independent television production company Boom.

The Welsh Government is planning to build a Gloworks 2.

Cardiff Waterside

Located in Cardiff Bay, Cardiff Waterside has been developed by institutional property investor and developer Aviva over the last decade.

The 14 acre estate includes the HQ of export credit insurer Atradius and the flagship 3 Assembly Square grade A office scheme, whose tenants includes KPMG, ITV Wales, Gambit Corporate Finance as well as Life Sciences Hub Wales.

The estate currently only has around 38,000 sq ft of office space available, but it has planing consent for further 625,000 sq ft across four sites.

While early days in terms of the marketing of these sites they include opportunities to build the 110,462 sq 2 Assembly Square office building, which could be linked up the proposed 1 Assembly Square (76,000 sq ft) on a parcel of land at the back of Senedd building.

So there is still a huge amount of development potential at Cardiff Waterside, which would benefit, as would Porth Teigr, from a tram route connecting it to the centre of Cardiff.

Callaghan Square

The Welsh Government acquired a yet to be developed just over five acre site at Callaghan Square in the centre of Cardiff from MEPC for just over £7m back in 2012.

The strategic site has planning consent for up to 500,000 sq ft of commercial developments. However, the Welsh Government has moved back from developing a first phase speculative 90,000 sq ft office scheme at cost of around £15m.

It had hoped to strike a pre-let deal with professional advisory firm Deloitte which is creating up to 700 jobs in Cardiff over the next five years.

However, Deloitte has opted to take additional office space for its growth requirements at the offices of Media Wales.

But there is interest from developers looking to work in a joint venture arrangement with the Welsh Government to bring to the market new grade A office space in the centre of Cardiff at Callaghan Square.

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