Cardiff is the capital of Wales and the country’s economic hub. It’s a city selling itself on affordability and connections, with its bold claims well substantiated. Recent research from the National Endowment for Science, Technology and the Arts (Nesta) revealed that Cardiff has one of the highest levels of ‘gazelle’ firms of any city in the UK (gazelle being a high-growth company that is increasing its revenues by at least 20% annually for four years or more). There’s also a supportive Government and local council, with a £100m Wales Life Sciences Investment Fund and a £150m fund from Finance Wales to support micro-, small and medium-sized enterprises.
Already calling Cardiff home are BT, GE Aviation Wales, NewLaw, Biocatalysts, Boom Pictures, Monitise, MotoNovo Finance, Admiral Group (with a workforce of 2,500 in Cardiff), Confused.com, Box UK, IQE and Cell Therapy Limited (CLT). Biotechnology, life science and service industries are all thriving in the city, fuelled in part by spins offs from Cardiff University – a member of the elite Russell Group of UK research-intensive universities.
Future movement in the Cardiff employment sector will stem from the Central Square regeneration zone, set to be the new home of BBC Cymru Wales and lauded as the ‘gateway to the capital of Wales’. Hundreds of thousands of square feet of office, retail and leisure space are under development – alongside much needed new homes – delivered over five exciting phases until 2018.
Already successfully transformed is Cardiff Bay – a real focal point and an integral part of attracting relocation businesses. This former industrial powerhouse is now a leisure and social hotspot. There are exceptional sailing and berthing opportunities, a reputed 149 pubs and nightclubs, 73 restaurants, 125 hotels and family attractions such as the Techniquest Science Discovery Centre, the Ice Arena, a cinema complex and bowling alley – it’s the perfect support network for employees being parachuted into the city. Elsewhere, Cardiff is culturally rich, with the Millennium Stadium and Wales Millennium Centre, as well as the St David’s Shopping Centre and complementary Victorian arcades.
Cardiff isn’t short on properties to let – the spotlight has been shining on the city recently, highlighting the exceptionally good yields for landlords (between 5% and 7%, outperforming many other cities). Cardiff’s private rental sector is tipped to keep on growing, marked out as a ‘one to watch’ by Buy2Let, who crunched data from the Royal Institution of Chartered Surveyors, LSL Property Services, LendInvest, Move With Us, HomeLet and Hamptons International to get an accurate picture of the UK’s rental market. The upshot for relocation companies is an ever-growing choice of properties to rent
According to home.co.uk, the average rent in Cardiff is £1,047 pcm, which will generally secure a three-bedroom property. Expect to pay a little more in the smartest neighbourhoods – Whitchurch, Pontcanna and Lisvane. Properties with waterside views are always in demand, with some spectacular vistas to be had overlooking the River Taff and Cardiff Bay. Cardiff city centre is perfect for professionals looking to be close to transport links and big business. Newer, low maintenance apartments in developments like The Aspect, Landmark Place, Cathedral House and Meridian Plaza quickly find favour, and many of the properties are offered on a furnished basis with corporate lets firmly in mind.
Our relocation agents are currently active in Cardiff, sourcing properties to rent and helping settle home movers. If you have clients relocating to Cardiff and would like orientation and rental advice, contact Klippa Relocation today.