Iconic central Cardiff buildings acquired by ARASAM Ltd in venture into Welsh market
After linking up at a networking event in London and using our links with For Cardiff, we have advised Arasam Limited on the acquisition of two iconic buildings in the centre of Cardiff within 12 months. The freehold acquisitions mark a significant commitment to Arasam’s strategic move into Wales.
Our cross-departmental team advising Arasam Ltd included Real Estate experts, Leanne O’Brien, Hannah Vosper and Angharad Jones, as well as support from Chris Lewis on Banking & Finance aspects. We are delighted to have been able to introduce Arasam to a network of professionals and Senior Officials at Local Government level to assist with the formation/appointment of a professional team, which resulted in Arasam’s first Welsh Project getting off the ground.
Having traditionally focused on London, the Midlands and overseas projects, Arasam Ltd has ventured into Cardiff. Park House situated on Greyfriars Road close to the historic Cardiff Castle and the iconic building spanning The Hayes and Wharton Place, adjacent to the House of Fraser Building offer prime real estate opportunities in the heart of Cardiff City Centre.
This is an important milestone for Arasam and its business. It also marks our commitment at Capital Law not only to For Cardiff, but also to the transformation of the city centre and assistance to Local Government’s inward investment agenda.
The team continue to advise Arasam and are currently supporting on spin off work connected to the planning process and general construction related assistance. We are additionally supporting with the asset management work for both buildings.
Arasam is going from strength to strength and continues to increase its expansion in Wales. One of our Real Estate experts, Hannah Vosper, has been retained to deal with the ongoing asset management work and has recently completed a lease to Ace & Tate, a high-end Dutch brand expanding in the UK.
On behalf of the owners Arasam, Director Harry Iles, added:
Investing in the Welsh market marks the next step of our ambitious growth strategy. Hannah and the Capital Law team were very responsive and always at the end of the phone, keeping us regularly updated. Their quick turnaround and ability to work to tight deadlines ensured the deal completed before Christmas.
Hannah Vosper, Principal Associate in Capital Law’s Real Estate team, commented:
It’s great to see new developers breaking into a market that has been monopolised by a few well-established developers for the past 3 decades. I’m delighted that our commitment to For Cardiff, which is offered on a Pro Bono basis, has been able to demonstrate real value to our client, Arasam Ltd, and at the same time assists Local Government with their inward investment agenda.
Andrew Gibson, Director at Avison Young, and advisor to Arasam Ltd says:
It was a pleasure working with my client, Capital Law and all parties involved in this transaction to secure this acquisition. Avison Young very much look forward to working on the continued transformation of Park House over the coming years.
