The International Baccalaureate Organisation (IB0) is relocating to the centre of Cardiff in one of the biggest office letting deals in the capital this year.
The educational body has agreed to take nearly 24,000 sq ft of space at the Fusion Point One office scheme, which has undergone a major refurbishment by its landlord Fidelity 海角视频 Real Fund.
The IBO is relocating its Welsh operation from its existing and long-standing offices at Cardiff Gate Business Park on the outskirts of the city. Following the letting, and a deal understood to be close to completion, only just over 8,000 sq ft of space, located on the first floor, remains available for let in the 65,000 sq ft grade A office building.
Joint marketing agents for the building on behalf of Fidelity are property advisory firms Fletcher Morgan and JLL. The IBO will join the building’s existing tenant in American streaming giant Roku, which occupies around 25,,000 sq ft.
The value of the rental deal has not been disclosed. Fusion Point One is being marketed at £25 per sq ft. The building also benefits from 14 electric vehicle charging points and close proximity to Cardiff Central Station.
A spokesperson for the IBO said: “We are very excited about the possibilities that this new space and location offers to us and are proud to reaffirm our commitment to Cardiff with this move.”
John James of Fletcher Morgan, said: “IBO has signed up to one of the highest quality office buildings currently available in Cardiff, with its exceptional green credentials and facilities, central location and within a short distance to the train station, shops and restaurants.”
Rhydian Morris, director JL’s Cardiff office, said: “This latest letting is a testament to the high quality of refurbishment undertaken by Fidelity 海角视频 Real Estate Fund. In addition, the immediate area surrounding Fusion Point One has been transformed with the completion of the impressive Platform and Gramercy build to rent residential developments extending to 400 new residential units, which is creating a new city centre live/work destination. IBO will be joining other established occupiers in the area, including Roku, Deloitte and Cardiff and Vale College.”
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Fidelity 海角视频 Real Estate Fund, a fund managed by Fidelity International, operates in more than 25 locations globally with $925.7bn of assets.
Michael Sofaer, senior asset manager, 海角视频 Real Estate, Fidelity International, said: “The Fidelity 海角视频 Real Estate Fund has a strategy to wherever possible create the most efficient and sustainable workspaces by investing in the property it holds. Fusion Point One in Cardiff is a comprehensive refurbishment project where we have invested significantly, providing enhanced sustainability credentials as well as superior cycle, shower and changing facilities. T
"The extensive amenity provision we have provided has been very well received and we are very proud of what we have created. We are delighted to welcome IBO.”