The multi-million pound redevelopment of Atlantic Wharf in Cardiff is set to take another step forward. Cardiff Council announced that it is about to enter into a build contract with Goldbeck Construction, subject to cabinet approval, for the development of the multi-storey car park on site. The 900-space car parking facility is seen as a key element of the redevelopment of Atlantic Wharf, which will also see a new indoor arena built on site.
Cardiff Council originally intended to have a car park with 1,300 spaces there but opted for an alternative strategy in January and decided to purchase the Q-Park multi-storey car park in Pierhead Street. Cabinet member for investment and development at the council, Cllr Russell Goodway, stated, “Together, the car parks will give the council control over 2,119 spaces for the same cost as the price of building a 1,300 space MSCP.”
If permission is given by Cabinet, the new 900-space multi-storey car park could be built by the end of next year to ensure that the council meets its obligations to the arena developer. Once the new MSCP is built, it will allow the council to move forward with the regeneration of the Red Dragon Centre site.
Cabinet members will meet to make a decision on whether to enter into the build contract on Thursday, October 17. The new car park is part of a commitment from the council in support of the new 15,000-capacity indoor arena and is also needed to meet the terms of the leases of tenants of the Red Dragon Centre. Cardiff Council acquired the Red Dragon Site in January 2020.
The council has undertaken a process to attract a developer for the site, which consists of 11.3 acres of land south of Hemingway Road, and is now working with Aviva Capital Consortium (ACC) to bring forward plans for a mixed-use development that can go alongside the new arena. As part of the redevelopment, the council is also seeking to improve the walking and cycling routes along Lloyd George Avenue.
Cllr Goodway added, “The preliminary ground works for the new indoor arena are gathering pace in anticipation of the financial close of the contract before March 2025. The arena and wider masterplan will see a significant investment in the local economy, kickstarting the next phase of regeneration in Cardiff Bay, creating jobs and opportunities for local people while acting as a catalyst for further investment in this historic part of the city.”
The arena will significantly increase the number of people visiting Cardiff for events and concerts, benefiting existing hospitality venues as well as the new developments that will be built as part of this regeneration scheme. The increased footfall will also complement the new Metro to Cardiff Bay, as well as improving Cardiff’s credentials to attract more and bigger events to the city.