Vastint UK recently secured a large site of 24 acres (~10 ha) in central Cardiff.
The Embankment site is located at Dumballs Road and runs along the river Taff. The site lies within walking distance of the retail heart of the city and the Central Station. It is also close to the vibrant Cardiff Bay.
The City of Cardiff has bought a neighbouring site of over 8 acres and the parties will work together to bring forward a new masterplan for the area.
“We have been negotiating the purchase of land at the Embankment site for the past six months and have been in discussions with the City Council for a year. We are happy and excited about securing this opportunity in Cardiff, which is another key milestone in the growth of Vastint’s operations in the UK.” says Andrew Cobden, Managing Director Vastint UK Services.
“Whilst the land will remain largely occupied for the next 2 years the aim is to regenerate the site in line with Vastint’s goal to create long-term income and value. We are interested in developing a truly mixed-use scheme, including housing, that complement the city core.”
The Cardiff site is the third large scale mixed use development in the UK undertaken by Vastint, the first being Strand East, a 10 Ha development in London and the second being the former Tetley Brewery site of 8.5 ha in Leeds.