    |
|||
        |
|||
Planning
The site of a former hotel in the centre of Cardiff will be transformed in a two-year scheme by Gloucester-based property developers Contract House Investments (CHI) in a deal funded by Julian Hodge Bank Commercial.
The project is the largest-yet to be negotiated by the bank’s Severnside team and is the latest project to be undertaken by CHI, which recently completed the building of 24 luxury apartments at Grosvenor house in the centre of Cheltenham.
Cardiff’s Central Hotel was constructed in the 1880s and the building was destroyed by fire in 2003. Since then the site had become something of an eyesore in the city until its purchase by CHI for £1.1m from Burleigh Estates. Contract House Investments will now develop the site in a £30m scheme that will see basement parking for 22 cars, a sports café on the ground and first floors, rising to an 11-storey hotel and private apartments in floors 13 to 15.
The Welsh Assembly Government has appointed Savills to sell around 60 acres of land for the development of a multi million pound regeneration scheme in Cardiff.
The Ely Bridge site, between Ely and Canton, is set to become one of the biggest brownfield redevelopments in Wales and will set new standards in sustainable development.
Resolution to grant outline planning permission, subject to legal agreement, has already been granted for the creation of a new neighbourhood on the former Arjo Wiggins Paper Mill. It has the capacity to create around 900 new homes, several hundred jobs, a range of community facilities and public open space.
Savills will be releasing the site to the market in early 2008, with a view to receive Expressions of Interest in February. A shortlist will then be drawn up in early summer 2008.
