Plans have been unveiled for an ambitious project in the heart of Cardiff that includes the development of 400 build-to-rent apartments and the revitalisation of railway arches in the area. The UK’s largest listed residential landlord, Grainger, based in Newcastle, has acquired a land site on John Street in a significant £6.25 million deal. This acquisition also encompasses the long leasehold interest in five railway arches. The company is now in the process of seeking planning consent for the construction of 400 apartments with resident amenities, as well as the refurbishment of the railway arches to create commercial and publicly accessible open spaces. These arches, each around 1,000 sq ft in size, currently sit vacant.
Grainger has also expanded its holdings with the purchase of a multi-storey car park at the nearby Capital Quarter scheme, adjacent to its Copper Works residential project. Both the land site and the car park were acquired from Cardiff-based developer JR Smart. The property advisory firm Knight Frank’s Cardiff office facilitated JR Smart’s disposal transactions with Grainger. The 296-space car park acquisition allows Grainger to offer parking spaces to residents of the Copper Works development and potentially to future occupants of the John Street site.
With over 11,000 operational rental homes across the UK and nearly 5,000 homes in its development pipeline worth £1.4 billion, Grainger sees these acquisitions as an opportunity to strengthen its presence in Cardiff. Earlier this year, the company launched its Copper Works build-to-rent scheme in the Capital Quarter, featuring 307 apartments. Grainger’s chief executive, Helen Gordon, expressed satisfaction with the new investments in Cardiff, emphasizing the city’s importance as an investment target for the company. The potential to deliver an additional 400 high-quality rental homes in Cardiff would bring Grainger’s portfolio in the city to a total of 707 units.
The Cardiff acquisitions mark a strategic move for Grainger, aligning with its growth strategy in the build-to-rent sector. By expanding its footprint in Cardiff, the company aims to cater to the increasing demand for high-quality rental homes in the city. The mixed-use development plan, combining residential apartments with refurbished commercial spaces in the historic railway arches, reflects Grainger’s commitment to creating vibrant and sustainable communities. This project not only contributes to the city’s urban regeneration but also enhances Grainger’s reputation as a leading player in the UK’s rental housing market.
Grainger’s investment in Cardiff underscores the city’s appeal as a prime location for property development and underscores the company’s confidence in the local market’s growth potential. The synergy between residential and commercial elements in the proposed scheme demonstrates Grainger’s innovative approach to urban development, focusing on both housing solutions and public spaces. As the project progresses through planning stages, stakeholders and residents eagerly anticipate the transformation of John Street into a modern and dynamic hub that integrates heritage architecture with contemporary living spaces. Grainger’s commitment to delivering high-quality rental accommodation aligns with Cardiff’s vision for sustainable urban development and sets a benchmark for future mixed-use projects in the city.