Top UK investable projects: Atlantic Wharf, Cardiff Bay
Project overview
Atlantic Wharf, situated in Cardiff Bay, is one of the UK’s most exciting mixed-use regeneration opportunities.
The 30-acre Atlantic Wharf regeneration will deliver more than 1.2 million sq ft of mixed-use development, including leisure, cultural, office, and residential spaces, centred on destination placemaking. Key features include a 15,000-capacity indoor arena, more than 1,500 homes, and 500,000 sq ft of office space.
Anchoring the scheme, the multi-purpose arena – delivered with Live Nation and private investment – is expected to attract over a million visitors annually to Cardiff Bay and drive wider regeneration.
The opportunity
There are opportunities for investors to partner in delivering real estate developments, including short-, medium- and longer-term investment across the core sectors, including commercial, residential, hotel and leisure.
Financials
The total development cost is projected at £1 billion gross development value.
Project sponsor
Cardiff Council is promoting and delivering the project, with the arena development supported and delivered by Live Nation.
Significance
Atlantic Wharf will act as the catalyst to take forward future phases of the Cardiff Bay development, creating a new visitor destination in the UK and generating thousands of jobs in the city’s communities.
The project will be enhanced by the first phase of Cardiff Crossrail, a transformative tramway connecting Cardiff Central and Cardiff Bay by 2028, and linking into the broader metro system and improving regional access, including to the planned Cardiff Parkway Station.
The pitch
Cardiff is the fastest-growing core city in the UK. With over three times the national rate of growth over the last two years of data (from 2021 to 2023), the city continues to increase its population and talent pool, alongside attracting high-value businesses and investment, driven by competitive costs, access to the devolved government and a can-do attitude towards the delivery of several ambitious major projects.
The cultural and transport-led regeneration project for Atlantic Wharf unlocks an exciting new opportunity for Cardiff. It offers the potential to create jobs, housing, enhanced leisure offerings and business opportunities, supporting communities, while meeting the city’s zero-carbon goals.
The Crossrail infrastructure project will be a catalyst to enhancing the connectivity between the city centre and Cardiff Bay, driving more footfall between Cardiff Bay, the city centre and the wider region.
