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Office deal equals topcityrentfigure.

Cardiff's headline rent for prime office space has been matched in a deal which sees the first tenants signed up to the second phase of the Fusion Point development. Haden Building Services Division has taken 12,000 sq ft of ground-floor space at the building, which has been developed speculatively in a joint venture between Landmark Securities and Robert Hitchins.

It follows the company's securing of a 10-year government contract to provide office services.

Haden, which has taken a 10-year lease, will employ a total of 110 employees at its new Fusion Point 2 Cardiff office facility.

The rental element to the deal is not being disclosed, but is believed to be pounds 18.50 a sq ft, which equals the highest rent currently being paid for office space in South Wales by Eversheds at its Callaghan Square offices in the centre of Cardiff.

Ian Bradley, service centre director for Haden's Business Services, said, "One of our main criteria in selecting the Fusion Point 2 site was that it is in close proximity to, and within walking distance from, Cardiff central train and bus stations as this is a key benefit for the retention and recruitment of staff."

Fusion Point 2 is now completed to a grade A office specification and will provide just under 50,000 sq ft of immediately available office space over first (15,653 sq ft), second (16,033 sq ft) and third floors (16,106 sq ft).

David Herbert of Robert Hitchins said, "We are very pleased that Haden's Business Services Division chose the Fusion Point 2 development and we are confident that this will lead to the other serious interest in the building being converted into further transactions."

Sole agent for the joint developers and associate with Knight Frank, Rhydian Morris, said, "This location clearly forms an important part of Cardiff's office core, with Zurich occupying the adjoining Fusion Point and the nearby Blackhorse offices.

"This development offers large floor plates in a central location and will continue to do well with further speculative development proposed." Philip Silby of Matthews & Goodman acted for the tenant in the deal.
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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Date:Aug 15, 2007
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