Nabarro Nathanson wins dual role on Cardiff city centre regeneration” />Nabarro Nathanson has completed a major development agreement for two key clients that will reinvent Cardiff city centre and see the Welsh capital become “one of the top retail destinations in Europe”, according to property partner James Madden.
The project has already given Nabarros more than two years of work, starting with the 2003 creation of the St David’s Partnership joint venture between Land Securities and Capital Shopping Centres.
The new one-million sq ft redevelopment scheme is due for completion in 2009 with a value of £535m. It is expected to create 1,000 construction jobs and 2,000 permanent new jobs. The flagship is a 260,000sq ft John Lewis department store and a state-of-the-art civic centre and library.
Madden, who led the team, said: “It was quite a big challenge to schedule a three-year construction project right in the middle of a well-established and popular town centre. This site couldn’t be any more central; it’s 300 metres from the train station and less than half-a-mile to the Millennium Stadium.”
Nabarros continues to negotiate private treaty land acquisitions, while the Welsh Development Agency (WDA) will hold a public inquiry in the spring on compulsory purchase orders.
Orrick Herrington & Sutcliffe corporate property partner Anne O’Neill has been instructed by the developers to advise on the lettings. Cardiff County Council and the WDA were advised by their in-house legal teams, led respectively by Geoff Shimell and Paul Hanlon.