A prime office scheme in the centre of Cardiff has been boosted with two letting deals. The 5 Callaghan Square building has secured tenants in environmental consultancy Environmental Resources Management and global chief executive advisory firm Teneo Strategy.
The building, owned by Capital London Investment Management, is marketed by the Cardiff office of property advisory firm Knight Frank. Environmental Resources Management has signed a five year lease on a 2,595 sq ft office suite at an annual rental of £26 per sq ft. ERM were represented in the transaction by Lambert Smith Hampton. Teneo Strategy has moved from Brunel House in Cardiff to take a 10 year lease on a 2,204 sq ft suite.
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Mark Sutton, partner in Knight Frank’s offices agency in Cardiff, said: “This latest refurbishment and flexibility to create three new offices on the second floor follows a recent upgrading of the building’s main reception.
“The office refurbishment programme created bespoke suites in a prime Cardiff city centre office building. There is current availability with two suites of 1,049 sq ft (5th floor) and 2,994 sq ft (2nd floor) that are already refurbished and immediately available. There is 19,758 sq ft over two floors coming back early next year.”
Roxine Foster, director at Lambert Smith Hampton, said “ERM were looking to expand and upgrade from its existing accommodation but there were limited suitable options in the city centre for its size requirement. The works that have been carried out to 5 Callaghan Square means that the building meets its ESG (environmental social and governance) and sustainability requirements and, further more splitting the space to three smaller suites, has meant that it matches the size requirement well. ERM has almost completed its fit out of the suite and hopes to move in very soon.”
Teneo provides consulting, strategy and communications, capital and risk advisory services to senior executives of businesses and has more than 40 offices across the globe.
The 53,258 sq ft 5 Callaghan Square, which extends to just over 53,000 sq ft, forms part of the second phase of wider Callaghan Square development.
Anthony Rajwan, director of landlord Capital London Investment Management, said: “We are delighted that investment in the building is yielding results. Recently we have seen a trend of occupiers wanting the best space and we are happy with the assistance of Knight Frank to be able to deliver that to the market.”
