Plans to transform one of Cardiff's historic buildings above Cardiff Market into an aparthotel have been given the green light. Property developer Thackeray Group, which is also behind the redevelopment of the Howells building, has secured planning permission from Cardiff Council to refurbish the Grade II listed Market Chambers building on St Mary Street.
Thackeray is working with real estate advisors Savills and John Wotton Architects on the scheme which will see the 137-year old building be restored and repurposed into a 52 bed aparthotel with ground floor café.
The building is a notable example of Victorian commercial architecture, constructed in 1886 by entrepreneur Solomon Andrews. Historic conservation body Cadw described the frontage as "one of the most ambitious commercial frontages of mid-Victorian Cardiff, by its most ambitious entrepreneur".
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The refurbishment is the latest in a number of property investments by Thackeray in Cardiff's city centre, including 3-4 St Mary Street which is occupied by Flight Club.
In January, the property developer revealed first phase plans for the redevelopment of the landmark Howells building also in the centre of Cardiff- which it acquired out of property administration last year.
The first phase of its £100m mixed-use redevelopment plans for the listed building - in a section which was added to the original building in the 1930s - has seen nearly 27,000 sq ft brought to market. The space has been relinquished by retailer House of Fraser which continues to trade from the rest of the building as a tenant.
The space, subject to planning approval from Cardiff Council, will be enhanced with its own roof terrace and, depending on the letting deal struck, could be occupied for a variety of uses including office, retail and food and drink use.
A masterplan for the entire redevelopment scheme is expected to be revealed by the spring. This could see a range of investments including new bars, restaurants, retail, apartments and even a hotel incorporated into the building.
House of Fraser, which operates on a flexible lease, could vacate its remaining space to pave the way for future development phases. However, there is potential that it could remain, but occupy far less space than currently.
Giles Hoare, investment director at Thackeray Group said: “Our investment and confidence in Cardiff goes from strength to strength and the Market Chambers apart-hotel consent is another example of this.
“The scheme will restore another significant heritage asset and help achieve the Council’s wider vision along St Mary Street. It was a pleasure working alongside Cardiff Council on another collaborative project.”
Annamaria Sgueglia, senior planner at Savills Planning, said: “The scheme breathes fresh life into a previously under-used commercial building and will deliver an attractive tourism offering that is sympathetic to its architectural significance while supporting the positive regeneration of the wider area.’
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