Midland property specialists Stoford has appointed Sir Robert McAlpine, one of the UK’s leading construction contractors to develop a £60 million new headquarters in Cardiff for Admiral Group.
The 220,000sq ft, 11-storey landmark building will be the biggest pre-let office scheme ever seen in Cardiff and will enable the insurance giant to employ more than 3,000 in a single location.
It will be built on a half-acre site on the former David Street car park which was demolished as part of the St David’s 2 redevelopment.
Work will start on site in April and the building is scheduled for completion in March 2014.
Tony Nash, Director of Stoford based in Newhall Street, Birmingham said: “Sir Robert McAlpine is one of the UK’s most reputable construction companies so we are delighted to appoint them to develop such an important and impressive scheme.”
Head of Property for Admiral, Huw Llewellyn said: “We’re delighted with the appointment. The new offices comply with the environment BREEAM ‘Excellent’ standard for sustainability and energy efficiency and will be ‘tailor made’ to our unique cultural needs and provide the very best working environment for our staff.”
Admiral is one of Wales’ biggest employers with more than 4,600 people in Cardiff, Swansea and Newport. It is also Wales’ only FTSE100 company.
Stoford completed a forward-funding agreement with German open-ended fund manager Union Investment in December 2011.