An historic grade listed building in Cardiff Bay is being turned to an apartment scheme after being sold by the Welsh Government.
Property advisory firm Savills, acting behalf of an undisclosed property developer client, has completed the acquisition of St Line House in Cardiff Bay for £710,000. The property will be converted into around 10 apartments.
The building occupies a prominent position on the northern side of Mount Stuart Square. It comprises a grade II listed mid-terraced, five storey office building with basement storage, providing a total of 10,000 sq ft of accommodation.
Mount Stuart Square originally formed a residential square with a central garden constructed in 1855 for merchants and sea captains. As the docks rose in prominence, wealthy residents moved out and it became a commercial centre with many of the existing properties being converted or redeveloped for office use.
Get business news direct to your inbox
There's no better time to stay up to date with economic and business news from your region. By signing up for our daily newsletters, email breaking news alerts and weekly round-ups from all the major sectors, you get our journalism direct by email. To sign up, find out more and see all of our newsletters, follow the link here
The construction of the Coal Exchange building in 1888 solidified the change in focus to commercial, and it became central to the coal trade activity in Cardiff docks for much of the early part of the 20th century.
Ross Griffin, director in the 海角视频 investment team and based at Savills’ Cardiff office, said: “This is an attractive redevelopment opportunity for our client who will create a wonderful residential scheme in this beautifully presented building.”
Property advisory firm JLL acted for the Welsh Government on its property investment disposal.
Rhydian Morris, director at JLL Cardiff, said “St Line House served its purpose as an office building for many decades, however the constant evolving office occupier requirements became challenging for this historical grade II listed building with a redevelopment for a residential use being very appropriate.”