News
Topping out “The coolest car park in Wales”
Recognising the importance of car parking to commercial occupiers in Cardiff Bay, the Morley Fund Management is building an £11 million multi-storey car park as the first phase of Cardiff Waterside, a £140 million development that will bring a further 550,000 sq ft of Grade A offices to Cardiff Bay.
The 17 level car-park, which has been dubbed “the coolest car park in Wales” because of the colourful wave-like structure planned for the north-facing exterior wall, has now been topped out and is due to open in Autumn 2007. Of the 1238 car parking spaces, 800 will be on contract to Cardiff Waterside’s office occupiers and the remainder will be open to the public and there will be four disabled parking spaces on each level. In the evenings, the contract spaces will be open to the public, providing a much-needed facility for the neighbouring Wales Millennium Centre.
Operated by parking specialists Apcoa, the new car park will be fully secure with 80 CCTV cameras that will be monitored by security staff in the on-site management office, who will also be able to respond promptly to a call from any of the Help Points, which will be installed at regular intervals throughout the building. Apcoa is working towards Park Mark accreditation and this is likely to have been achieved by the time the car park opens in the Autumn.
The Cardiff Waterside land and property portfolio was acquired by Morley on behalf of Norwich Union funds and Knight Frank is the asset and investment manager. Commenting on the car-park’s progress, Joy McSmythurs, Partner at Knight Frank said:
“Cardiff Waterside has the potential to be a new international business location,
so it is important that we consider every aspect of the development, including parking. The decision to build the multi-storey car park as the first stage of the new phase of development shows our commitment to Cardiff Waterside’s existing tenants and demonstrates our confidence in the future of the development. As well as being a vital business facility for the Bay, the car park will also be a valuable public amenity and we are delighted it is making such good progress.”
The contractor is Sir Robert McAlpine.
ENDS
For further information please contact Caroline Melvin on 0117 946 6654 or Caroline Harris on 0117 944 1415
Notes to Editors
Morley
Morley is the UK-based asset management business of Aviva plc. Firms within the Morley group of companies manage £169bn (€247bn) from offices around the world as at 30 April 2007.
Morley manages both institutional and retail funds. It also acts as investment manager for a range of retail investment funds, marketed in the UK under the Norwich Union brand and in Europe under the Morley name.
The property team manages in excess of £29bn (€44bn) of UK and European property assets.
Awards
•Morley ranks no.1 fund manager in the Thomson Extel SRI Survey, 2007
•Property Manager of the Year,
UK Pensions Awards 2007
•Morley’s G7 Fund awarded Fixed Income Hedge Fund of the Year, Eurohedge Awards 2007
•Equity End User of the Year –
Derivatives Week DEAL Awards 2006
•Property Fund Manager of the Year, Pensions Management Awards 2006
•Best Commitment to Raising Standards of Trustee Education, Engaged Investor Awards 2006
•Property Fund Manager of the Year,
Property Week Awards 2006
•SRI Provider of the Year, Global Pensions 2006
•Central European Property Awards
2005 - Outstanding Company of
the Year & Investor of the Year
•UK Pensions Awards 2005 –
Property Manager of the Year
•Property Week Awards 2004 –
Best Property Fund Manager
Further information about Morley can be found at www.morleyfm.com
Aviva
•Aviva is the leading provider of life and pensions to Europe with substantial positions in other markets around the world, making it the world’s fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
•Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £41.5 billion and assets under management of £364 billion at
31 December 2006.
•The Aviva media centre at www.aviva.com/media includes images, company and product information and a news release archive