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Vastint has started to define the vision for the Embankment area of Cardiff where they own a significant parcel of low-quality industrial land south of the Penarth Road and Cardiff Central station, on the east bank of the River Taff. Vastint is working closely with a number of departments at Cardiff Council including the estates team, as the Council owns a significant parcel of land in this area. The vision that is being masterplanned extends beyond Vastint’s existing land holding of approximately 10 hectares to encompass the Council’s land as well as additional plots which support the wider area’s development. In total the masterplan covers an area of approximately 15 hectares and will bring a positive influence to its immediate neighbours and communities. Within the boundary of the masterplan there are a few private landowners and Vastint is in discussion with them in an attempt to assemble the site to allow delivery to come forward. This means at this time we are not able to confirm the quantum of development. Work on the masterplan is progressing at pace and we expect the first planning application covering the whole of the 15Ha of land to be ready for submission towards the end of the summer 2019. The first phases are expected to commence construction in late 2022. While the Cardiff site will be designed to connect into the local area and respond to local requirements, the proposals will share some key characteristics of Vastint’s other developments at Sugar House Island in London and the Brewery site in Leeds. It will be mixed use - the scheme will combine homes, workspaces and retail and amenity spaces to create a truly balanced mix of uses that will encourage people to come and go at all times of the day. A great deal of effort will go into making the ground floor environment economically sustainable, diverse and attractive; connected by a well-designed landscape that encourages people to visit and stay. Homes - at this early stage of design we are not yet able to define accurately the number of homes that will come forward but estimate that the total could be in the region of 2,000-2,500 homes together with offices, hotels and retail spaces in key locations along Dumballs Road, surrounding a new public square in the centre of the scheme and along the river’s edge. If Help to Buy is still supported by the Government when we are ready to sell units, then it is likely that a number of homes will be eligible. As at Sugar House Island and Leeds, it is also likely that Vastint UK will build and hold a large proportion of the residential units so that units can be offered for rent and sale. Vastint recognises the need for Affordable Housing in city centres across the UK and would expect to deliver in accordance with the Council’s housing policy and, where the Council owns land, they are likely to request a higher proportion of affordable housing to help meet the needs of the city. It will be designed to make the most of its great setting - the Taff Embankment has a beautiful western aspect that gives us the opportunity to bring some green space to this area of Cardiff. The masterplan will improve the city’s connectivity - this site’s redevelopment has the opportunity to combine with the Brains Brewery land development, Central Quay, to the north to open up an opportunity to create an uninterrupted walkway from the city to Cardiff Bay along the river edge. It will also create important links to the station and the retail heart of the city. When you look at the plan of this part of the city centre it is clear that there are strong north-south links but few routes connecting communities to the east and west. We believe that the masterplan has the opportunity to strengthen connections between Grangetown and Lloyd George Avenue and connect Butetown back in to the riverside. We also hope to be a catalyst that generates greater use of Canal Park as a pleasant north-south route linking the city to the bay.

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