A prominent office building situated in Cardiff city centre is attracting considerable attention after being listed for sale with a guide price of £9.5 million. Eastgate House, a well-recognised landmark dating back to the 1970s, stands as a significant opportunity not just for commercial investors, but also for those interested in transforming the property into modern residential accommodation.
The building, which extends to nearly 95,000 square feet, underwent an extensive internal and external refurbishment in 2018, totalling an investment of more than £2 million. Despite its prime location and upgraded facilities, Eastgate House is currently only around half occupied, with existing tenants including government offices, ITEC Training Solutions, and a Domino’s Pizza unit on the ground floor. The site presently generates a rental income of just over £660,000 per year.
Property advisory firm Savills is handling the sale on behalf of Maya Capital, the investment group that acquired the freehold in 2015. The listing has prompted interest from a varied pool of potential buyers, some of whom are considering maintaining its current role as an office block, while others are looking ahead to a possible residential conversion for the upper floors.
Recent developments underscore the building’s potential for a change in use. A pre-application inquiry was submitted to Cardiff Council, proposing to convert the upper storeys—from the fourth up to the thirteenth floor—into a co-living development consisting of 117 beds. Council feedback indicated that, subject to standard planning protocols, the principle for such a project could be accepted. This has led experts to suggest that further residential accommodation alternatives might also be positively considered.
Savills’ marketing materials for Eastgate House emphasise that, should a future buyer wish to proceed with a residential conversion, a comprehensive planning application detailing the intended scheme would be required. The document summarises that the local authority’s initial feedback leaves room for optimism, not only for co-living solutions, but potentially other residential formats as well.
Market interest in Eastgate House reflects broader trends seen in many UK city centres. As hybrid and remote working patterns persist, large office blocks have in some cases struggled to retain commercial occupiers. By adapting these sites for residential purposes—such as apartments or shared living schemes—property owners can repurpose valuable urban plots and help address the rising need for city housing.
The proposed conversion of Eastgate House is likely to be watched closely by industry observers and Cardiff residents alike. Bringing new residential stock into the city centre could contribute to regeneration efforts and increase footfall for local businesses. However, any repurposing will need to balance heritage preservation, planning regulations, and the needs of the city’s growing population.
It’s worth noting that the sale price of £9.5 million is listed exclusive of VAT, a detail that prospective purchasers will undoubtedly factor into their calculations as they examine the feasibility of any redevelopment project.
Overall, the future of Eastgate House represents a microcosm of Cardiff’s ongoing evolution, as the city seeks to adapt its infrastructure for contemporary demands. Whether the building continues in its commercial role or is transformed for residential use, its next chapter is set to add another layer to Cardiff’s ever-changing skyline.