The final designs for the Welsh Government's new £6million centre for the creative industries in the heart of Cardiff Bay have been approved and the letting of the construction contract is imminent.
The 40,000 sq ft centre, to be built to BREEAM Excellent standards, is set to become a flagship development on Porth Teigr, which together with BBC Cymru Wales's Roath Lock studios, will form a hub for Wales' dynamic creative industries sector.
Business Minister Edwina Hart said: "Wales has a strong and diverse creative industries sector which has been identified as one of our strategically important economic sectors with high growth potential. I am pleased the Welsh Government is supporting this latest development which has the potential to act as a catalyst to create a strong sector cluster in Porth Teigr."
Mark Hallett, Development Director at Igloo - the developers behind Porth Teigr - said: "Our vision for Porth Teigr is to develop a 'hub' for the creative industries. The new centre will be a crucial part of this by providing opportunities for businesses and individuals within this growing sector."
Mark Sutton, Associate at Knight Frank, agents for the building commented: "The new centre for creative industries will be the first building at Porth Teigr to deliver office space to the market. The six-storey building will be located directly opposite the BBC studios, overlooking the waterfront and will be flexible to accommodate a number of SMEs or a single occupier with the capacity to accommodate up to 300 staff.
Designed by Ash Sakula Architects, the building will incorporate a range of green environmentally friendly features to minimise energy consumption and reduce the need for heating and cooling.
The construction of the centre will adhere to igloo's pioneering sustainable investment policy, FootprintR, which focuses on sustainable development, social inclusion, economic and social regeneration and equal opportunities. This will include employing local people and offering opportunities for trainees and work experience placements, as well as identifying and nurturing local supply chains.
Hoong Wey Woon, Aviva Investors igloo Fund Manager, said: "The sustainability measures we have in place in our FootprintR policy will ensure that this new building contributes to the fantastic progress we're already making in this area. It also demonstrates the important role sustainability plays when investing in real estate both for investors and occupiers, and for the surrounding communities."
Construction is anticipated to commence in December 2012 and the main contract completed by January 2014 with the centre opening for business in June 2014. The Welsh Government will take a 25 year head lease on the property.