Commercial Law Firm Takes a New Headquarters in Major Office Deal; Commercial Property in Association With: CAPITALLAWDOUBLESSIZEOF ITSWORKINGENVIRONMENT

Article excerpt


EXPANDING law firm Capital Law has signed up to a new headquarters in Cardiff in one of the biggest office deals in the capital in recent years.

It follows the striking of a deal with Bailey Hodge Investments, which sees the commercial law firm taking the whole of Atlantic House East, near the centre of Cardiff in East Tyndall Street.

Capital Law's 100 staff will relocate from the firm's current offices at Caspian House in Cardiff Bay in May.

The new offices, at nearly 20,000 sq ft, are double the law firm's current premises.

Capital Law started looking fornewpremises 18 months ago to meet ambitious, mediumterm growth plans.

The deal sees Capital Law entering into a 12-year lease at an undisclosed rent.

The property has been empty since former retail tenants the Peacock Group invested in a new headquarters at the nearby Capital Link building developed speculatively by JR Smart.

Bailey Hodge Investments was set up in early 2008 and stems from a long-standing trading relationship between Bailey and Julian Hodge Bank.

It is a joint venture with Carlyle Property Development Company, the development arm of the group which owns Julian Hodge Bank. The company completed the acquisition of Atlantic House East in 2008 and Atlantic House West, let to the Royal Bank of Scotland group, was acquired in June 2009.

Chairman of the Bailey Group John Bailey said: "We are delighted to secure such a prestigious client as Capital Law as we emerge from a difficult period in the property lettings market. …