Our Energy Transition, Infrastructure and Projects team has advised Investec on the funding aspects for Cardiff Parkway, a new development in eastern Cardiff that will include a railway station with four platforms and a business park, which has now received planning approval from the Welsh First Minister.
Cardiff Parkway will bring a mainline station to the St Mellons area of eastern Cardiff, with developers also proposing to build a business park alongside. The station will have direct links to Cardiff and Newport city centres, as well as mainline train services to Bristol, London and beyond.
Cardiff Parkway Developments is overseeing the project, with the Welsh Government having a minority stake in the organisation, and the majority controlled by Investec and the Roberts family.
Nath Curtis, Head of Energy Transition, Infrastructure and Projects (UK), led on the transaction, with support from Associate Dan O'Donnell (Energy Transition, Infrastructure and Projects), Partner Giles Clifford (Real Estate), Partner Dominic Richardson (Rail), Partner Ben Stansfield (Planning), and Senior Associate Edmund Day (Real Estate).
Nath Curtis commented: "This is an exciting project that will provide a significant boost to the South Wales region by supporting economic growth with the creation of new jobs and improved transport links. The recent planning permission approval has been a long time coming so we're pleased to have reached this milestone and look forward to continuing to advise the Investec through the rest of the development."
Adam Gordon, Special Projects MD at Investec, said: “It’s fantastic news that the Welsh Ministers have granted planning permission to Cardiff Parkway Developments. The team aims to deliver modern, sustainable transport-oriented development centred on the new railway station. The Gowling WLG team led by Nath Curtis, with Ben Stansfield providing planning input, has been a trusted and knowledgeable advisor to us as investors.”