The topping out of the £57m PRS (build to rent) development in the Capital Quarter, acquired by Grainger plc in 2019, has been completed by, IM Properties, in partnership with the main contractor Winvic Construction Ltd.
IM Properties is creating 307 private rental homes with amenities for residents including a rooftop lounge and terrace.
Grainger plc, the UK’s largest listed residential landlord and a market leader in the Build-to-Rent sector, will own and operate the 23-storey scheme upon completion. Grainger is an award-winning landlord, renowned for delivering high-quality homes professionally managed by an onsite Resident Services team.
Positioned within close proximity of Cardiff Central station and the city centre, the scheme has required meticulous planning to ensure the build is contained within safe parameters of the surrounding office buildings.
Majella Lynch, project director for the building said: “We are delighted to have reached this major new milestone. It is such a complex scheme to deliver, we have all had to apply a lot of thought and ingenuity to get it to this point, which really shows the strength of our in-house project delivery team working in partnership with Winvic.
“When complete, the scheme will be the jewel in the crown in the Capital Quarter, from its cream exterior and copper trim to the triple-height glazed roof space, setting a new benchmark for a residential rental property in Cardiff and underlining our ambitions to always deliver best-in-class schemes.”
The scheme is scheduled for completion in the summer of 2022.
Michael Keaveney, director of Land and Development at Grainger added: “It’s great to reach this milestone in our first Cardiff scheme. Upon completion this will be an excellent development, delivering professionally managed, high-quality rental homes in a vibrant area of the city. We look forward to seeing the scheme progress and come to life in the coming months”.