The decision by British Gas to vacate their current 155,000 sq ft office building has given way for property developer Rightacres to acquire the property.
British Gas is to relocate their call-centre operation from Helmont House to the close-by Callaghan Square scheme - a new 70,000 sq ft office site joint developed by Rightacres and MEPC.
Helmont House stands at 10 stories and almost 200 ft tall making it one of the biggest office buildings in Cardiff and one of the largest acquisitions for Cardiff-based developers Rightacres.
The value of the acquisition is not being publicised but it is thought to have been in the margin of £10m.
“We have brought diversity and energy to the city centre of Cardiff, developing some of the city’s most successful office developments and we have given a new lease to many older buildings in the capital” said chairman of Rightacres, Michael McCarthy.
Mr McCarthy added: “The Helmont House office building provides us with another opportunity to capitalise on a first-class building into which we will breathe new life.”
Tags: Rightacres