Cardiff seeks investment for arena vision

Further plans have been revealed regarding a mixed-use £500m (€585.3m/$663.6m) development in the Welsh capital, Cardiff, that would be underpinned by a 15,000-seat arena.

Cardiff City Council granted permission for detailed design works to commence on a new indoor arena in November, with events promoter and venue operator Live Nation already said to be interested in the project.

The Wales Online website said the council has now unveiled plans for a 30 acre development that would also include 200,000 sq ft of retail space, 50,000 sq ft of restaurants and bars, 45,000 sq ft of leisure space and 40,000 sq ft of office space, as well as a cinema complex, 350-bedroom hotel, a 2,000 space multi-storey car park and waterfront apartments.

Plans are said to be at an early stage and still require investor and developer support. With this in mind, council leader Huw Thomas, and his economic development team, travelled to the MIPIM real estate conference in Cannes this week to hold talks with potential investors in the Cardiff Bay project.

“These are our plans to continue to develop as a world-class visitor destination,” Thomas said, according to Wales Online.

“The opportunities for growth and to deliver a game-changing project are here. Cardiff is the fastest-growing city in the UK with the best quality of life in the country. We are an events capital with 22 million visitors every year.

“£2bn of regeneration has already been delivered in the Bay and this is the next half a billion project which we want to bring on stream.”

Image: Visit Cardiff