Moves by law firms and UK government departments into the Central Square development are cementing Cardiff’s place as a major centre for the law and civil service.
Legal firm Blake Morgan has taken an office at the site, and Hugh James will take on a 100,000sq ft office there in 2018.
Add this to the many law firms and barristers’ chambers in the city, and it’s no surprise that Cardiff topped the UK league for property deals involving law firms in 2016. Research has shown that 19% of Cardiff’s property deals involved legal firms.
It’s a substantial and growing sector.
Central Square will also become a major site for the civil service. Recently, HM Revenue and Customs announced it would move 4,000 staff into the development from Llanishen.
The UK government has taken out a 25-year lease on more than 265,000 sq ft of space at the site.
Other government departments such as the Office for the Secretary of State for Wales are also set to move there.
The civil service is a major employer in the Cardiff area.
The Welsh Government has more than 5,000 workers, many of whom are based in or near the Senedd in Cardiff Bay, an around 1,000 people work at Companies House in Cardiff.
What should landlords and sellers do?
It’s time for landlords to market their high-end rentals to lawyers and public servants, says Fortis Properties Managing Director Jamie Langley.
“This is a lucrative market for private domestic landlords,” he says.
“Professionals such as lawyers and civil servants make excellent tenants. They tend to have good salaries, can afford rentals in desirable areas, and often like the flexibility of renting. It allows them to move cities to further careers.
“For sellers, having potential buyers who have good incomes and a good career path in their chosen profession helps enormously when it comes to achieving the house prices they desire.
“Having two such excellent markets for properties in Cardiff is a boon for anyone renting or selling a domestic property.”
So, when you’re marketing your properties, Jamie says it’s important to highlight the benefits for lawyers and civil servants.
There are three easy ways to do that:
- Highlight the good transport links and the vicinity of properties to legal practices, barristers’ chambers, and courts, and the Senedd and Central Square.
- Advertise your properties in legal publications and legal websites and in publications read by civil servants.
- Use Fortis Properties’ expert marketing and legal contacts. “We have a deep understanding of the marketplace. Our business is established and has sold and rented hundreds of properties and we have excellent contacts in legal practices and among civil servants,” Jamie says. “Our experienced staff conduct viewings and will also get to know potential renters and buyers, finding out what they do. Our staff will then tailor their information to meeting the needs of those viewers, maximising your chances of a positive result.”
Do you need help renting or selling a property in Cardiff? Talk to our experienced team. Call us on 02920 561111.