Morgan Cole completes £45 million property transaction
Law firm Morgan Cole has completed all property transactions relating to the new £45m new site for Cardiff and Vale College, one of the largest and most exciting colleges in the country.
Based on Canal Parade in the heart of Cardiff’s enterprise zone, the site is being developed by Rightacres Property and constructed by Willmott Dixon and is expected to kick start the wider regeneration of the Dumballs Road area. Morgan Cole is advising the College on all legal matters.
Jeff Thomas, Director of Estates comments: “The procurement of the new £45m city centre campus via competitive dialogue was a significant challenge given that the College had a deadline of only ten months in which to complete the process and had to deal with complicated property transactions with developers. Competitive dialogue and dealing with developers can be a complicated process and getting it wrong can have a significant impact on progress with a proposed project. Morgan Cole flawlessly guided the College through this process and went above and beyond the call of duty to ensure that all the legal work and procurement processes were done correctly and efficiently in the required time frame; they proved to be a rock of support for which I am very grateful.”
Penri Desscan of Morgan Cole adds: “We have a strong reputation for ourwork in the education sector in Wales, particularly in higher and further education. Our experience in the sector provides our lawyers with a deep insight into the particular requirements of colleges, and has enabled us to tailor our services to Cardiff & Vale College and ultimately, help it to realise its ambitions which are coming to fruition now.”
The development is being supported by the Welsh Government through a £20m grant. The site will provide a state-of-the-art, inspirational learning facility for individuals, communities and employers across the region. Initial work began in August 2013 and the site is on schedule to be ready for students to start their studies at the new campus in autumn 2015.
Facilities will include a rooftop fine dining restaurant with views across the city, a gym, dedicated Science, Technology, Engineering and Mathematics Centre (STEM), luxurious hairdressing and beauty salons, conference facilities , employment centre, retail outlets and performance/media accommodation.