Fladgate advises on construction of tallest building in Wales

Fladgate is advising the Cardiff Marine Group in its £60m Bayscape marina development, where construction is set to begin on Wales’s tallest building.

A cross-department team advised the group on its corporate restructuring and refinancing. It also represented the company in its 25-year management agreement with Wyndham Hotels, which will take up residence in the development’s flagship 32-storey building.

Financing was provided by Kaupthing Singer & Friedlander, advised by Pannone, and the Co-operative Bank, represented by Geldards. Eversheds represented Finance Wales, which provided additional funding.

The Fladgate team was headed by property partner James Fry and included finance partner Avram Kelman, restructuring partner Alex Kaufmann and tax partner Huw Witty. Eddie Powell worked on the hotel management agreement with Wyndham.  

Fry, who joined the firm from Finers Stephens Innocent last year, said: “The initial instruction was for the management contract with Wyndham Hotels. It then became clear the company needed to do a group reorganisation and refinancing to pave the way for going forward.

“The deal allowed us to demonstrate our multi-discipline expertise. We hope to be involved in the deal going forward, including the construction, planning and finance aspects of the project.”