Business Information provider Creditsafe is relocating to a new HQ in the biggest out-of-town office letting deal in Cardiff for years. The firm, which also has offices in Cardiff Bay, Dublin, and London, is moving its main operation from Caerphilly Business Park to the 50,000 sq ft Ty Meridian office building at Cardiff Gate Business Park.
The firm, which employs 300 in Caerphilly, is expected to complete its move next month. Creditsafe is taking the entire building, which benefits from its own car park with around 200 spaces.
Ty Meridian, which is owned by utilities group SSE, has been empty for a number of years having been occupied by SSE’s retail business, before in turn being acquired by Ovo Energy in 2019. SSE still have a presence at another building at the business park.
Property advisory firm JLL acted for SSE Services on its 15-year letting deal with Creditsafe. The rental agreement is believed to be around £13.50 per sq ft. Burston Cook represented Creditsafe, which has more than 40,000 business customers in the Ƶ providing services helping them to navigate financial, procurement and compliance risks.
Chris Robertson, chief executive of Creditsafe Ƶ and Ireland, said: "We carefully considered our relocation options and are very excited to be moving to Ty Meridian over the coming months. The large floor plates provide us with complete flexibility and being located at Junction 30 of the M4 motorway will enable us to be very accessible to our staff.
Rhydian Morris, director of JLL’s Cardiff office, and SSE’s advisor, said: "Ty Meridian provided the largest available out of town floor plates, which was a key requirement for Creditsafe Business Solutions and I look forward to seeing their completed fit-out. This is the largest Cardiff out of town office letting for several years and a welcome boost to Q1 take-up.
Tom Gibbons, director of Burston Cook, said: “We had a specific client brief to secure a suitable office building that would support my client’s growth strategy as well as providing self-containment. Ty Meridian is a great choice for my client, especially the strategic location at Junction 30 of the M4.”
Last year the empty 52,000 sq ft Centre 7 building at Cardiff Gate Business Park was acquired by the Welsh Government in a £5.8m deal from Sir Robert McAlpine Staff Pension and Life Assurance Scheme.
On its rationale for the acquisition of the building the Welsh Government said it forms part of its plans to grow and support the compound semiconductor sector by offering a hub for new businesses within it, those seeking to scale-up and related inward investment activity.
The International Baccalaureate Organisation is though relocating from the business park, where it currently occupies a 48,000 sq ft building to the centre of Cardiff. It has agreed to take around 24,000 sq ft of space at the Fusion Point One office scheme, which has undergone a major refurbishment by its landlord Fidelity Ƶ Real Estate. The International Baccalaureate Organisation will move into its new offices by late summer. Fusion Point is being marketed jointly by Fletcher Morgan and JLL.
