Dovey Estates embarks on next 30,000 sq.ft. phase of £15M Cardiff Bary office development

Successful South Wales-based developer Dovey Estates has reacted to continued strong demand for office space by embarking on the 30,000 sq ft third phase of its Neptune Court office development, Cardiff Bay.

The £15m campus-style office scheme already has 60,000 sq ft occupied by a string of blue-chip names including the Wales FA, Haines Watts Accountants, Yes Loans & Mortgages and Roger North Long & Partners.

Construction is now underway on the third and final phase, which will see the completion of the final 30,000 sq ft of high-specification office space from June this year and provide employment space for more than 300 people at the site close to a Travel Lodge Hotel.

The final eight self-contained units at Neptune Court, which fronts Ocean Way in Ocean Park, will range in size from 3,296 sq ft to 4,388 sq ft, all benefiting from excellent car parking, raised floors and DDA compliancy.

Mike Baroth, Chief Executive of Dovey Estates, said, “The response to the first two phases of Neptune Court has been superb. Our confidence in the immediate demand for space at Neptune Court is such that we have now started to build-out the third and final 30,000 sq ft on a speculative basis.

“The location is close to the city centre and has the advantages of being in Cardiff Bay, where there is plentiful parking and an excellent road network. Ocean Park is now a very well established business location, providing a very secure environment.”

To date, Neptune Court has proved particularly attractive to owner occupiers. It also has the advantage of being located within an RSA Grant Tier 2 area for qualifying occupiers.

Matt Cottle, which employs more than 50 staff at its headquarters building on the scheme, said the new premises were perfectly suited to the needs of a professional practice. “We have all the amenities nearby which our staff need, ranging from a children’s nursery to a fitness centre. Transport links are also superb,” he said.

Joint agents Fletcher Morgan, EJ Hales and Lambert Smith Hampton are already reporting strong interest in the eight new office units, which are available for purchase or on occupational lease terms.

John James, Director of Fletcher Morgan said: "Investors and occupiers have been particularly keen to purchase the units to take advantage of the attractive lending terms currently still available to the market.

“These buildings are particularly attractive to individual, or company director pension funds, which are able to lease the space back to the operational business. There remains very strong interest among purchasers for commercial property of this type, as market conditions continue to be very healthy for commercial property purchase.”

Simon Watson-James of EJ Hales, said, “Neptune Court is experiencing continuing strong demand as Dovey Estates approaches the end of what has been a very successful development in the bay area, helping secure a significant number of jobs for Cardiff.”

Claire Davies, Associate Director of Lambert Smith Hampton, added, “During the course of the past two years, Neptune Court has exemplified the criteria of a successful business park, proving to be popular with both local, professional companies and national organisations.

“It is situated in an excellent position for organisations which require easy access to the city centre and to the local road network. The office buildings at Neptune Court have been designed to accommodate modern occupier requirements including flexibility, prominence and disabled facilities.”

Dovey Estates is a member of the Cardiff-based Dovey Group that was established more than 30 years ago by current chairman Mr Leonard Dovey. It is currently engaged in a range of major commercial developments in South, South East & West Wales.

Caption (left to right) Simon Watson-James of EJ Hales, Claire Davies of LSH, Chris Terry of Fletcher Morgan and Mike Baroth, Chief Executive, Dovey Estates.

For further information contact:
Mike Baroth
Chief Executive
Dovey Estates Ltd.
Tel: 029 2034 4150