City Lofts’ collapse will not affect residential tower development in Cardiff

Permalink: City Lofts’ collapse will not affect residential tower development in Cardiff
by Lin Freestone

City Lofts Group, the developer of urban mixed-use property schemes primarily focused on residential apartments which went into administration last week, is a development partner of Allied Developments (Europe) Limited.

The two companies had been working on the plans to build 1,800 flats on an undeveloped spur of land in Cardiff Bay in a project called Bay Pointe.

Reassurance has been given by Chris Hamilton, managing director of both Bay Pointe and Allied Developments, that the 10-tower project would continue regardless of the problems suffered by City Lofts, although finding funding for the development would be crucial.

Although progress on the project may be slower, discussions with planning authorities will continue. The proposal has several planning hurdles to cross but is scheduled for completion in 2016.

When completed, the ten separate towers in the development would include Wales’ tallest residential building and would be targeted at the top end of the market. There would be a mix of studios, apartments and penthouses, all built on previously derelict land.