Bay Pointe

Joint venture with the Cardiff International Sports Village (CISV) for the regeneration of land at Cardiff Bay.

Land acquired in 2006 for £31m on behalf of Allied Developments (Europe) Limited and City Lofts Group plc.

Proposal was for a scheme comprising 1,127 apartments and 30,500 sq ft of commercial space with 3# towers up to 42 storeys.

On 27th February 2008, we managed to increase the density on the site and secure planning consent for 1,801 apartments and 30,500 sq ft of commercial space.

GDV

Profit

IRR

£350m

22%

18%