Legal & General has exchanged contracts to complete the largest privately funded development in Wales, Cardiff Central Square, which will include 318 Build To Rent units.
This makes it the largest BTR scheme yet anywhere in Wales.
Elements of the £400m regeneration scheme, in partnership with the Welsh Government and Rightacres Property, include a bus station, office space and the residential units.
“With Cardiff’s population expected to grow significantly over the next 20 years, increasing pressure is being put on its housing provision and infrastructure. We are delighted to announce Wales’ largest Build to Rent scheme, which will help to address the growing challenges, offering high quality, affordable homes on long term flexible leases for elective renters” says Dan Batterton, head of Build to Rent at LGIM Real Assets.
“The delivery of high quality developments with vibrant communities is becoming more and more important. This latest project is the perfect example and will have a positive long term impact for Cardiff and the south west more widely, maximising our existing infrastructure and supporting economic growth and job creation.”
In total L&G is delivering 868 Build to Rent Homes in Bristol, Bath and Cardiff and around 300 homes within its first urban retirement living scheme in Bath.