Work on a new bus station at the heart of a major development, that will also see new office space and 400 apartments in the centre of Cardiff, will start early next year.
It comes after confirmation of the intention to deliver the Interchange project at Central Square through an innovative special purpose vehicle made up of Cardiff Council, the developer behind the Central Square regeneration scheme, Rightacres, and the Welsh Government.
It is specifically being established to deliver Metro related project.
A new bus station, linked to Cardiff Central Railway Station, is seen as a key Metro related scheme that aims to create closer links between rail, bus and coach services, as well cycle users, in the city and the wider Cardiff Capital Region.
The joint venture will be known as the Metro Delivery Partnership.
And it will look to recoup their investment – with a profit margin – by selling the scheme on to an institutional investor.
The scheme will consist of:
- The bus station with retail units on the ground floor.
- 110,000 sq ft of new office space.
- 400 private apartments that will be available for rent.
- 250 car park spaces above the bus station.
The entire project will take around two years to deliver.
Credit walesonline.co.uk