Cardiff and Vale College has acquired one of the largest office buildings in Cardiff city centre as part of its expansion plans. The college, which is the third biggest further education institution in the UK and the largest in Wales, has purchased St William House, located just yards from its existing city centre campus on Dumballs Road.
The post-16 education provider, which generates annual revenues of £120 million, has acquired the freehold interest in the building from Schroders. The building extends to 144,000 square feet. While the value of the deal has not been disclosed, it is understood to have been around £8 million. The building had been marketed with a £15 million price tag.
St William House is currently vacant. Its former sole occupier, Lloyds, will soon begin relocating to a new 10-storey office scheme on John Street, close to St William House, developed by JR Smart. Since exiting the building, Lloyds has been operating from its Newport office site ahead of the move to the new headquarters.
The college stated that its new location will provide high-quality, industry-focused teaching facilities across multiple sectors to support economic development in the Cardiff Capital Region. The development will be delivered through the Welsh Government's Sustainable Communities for Learning Programme, subject to funding approval.
In addition to its main campus on Dumballs Road, which opened in 2015, the college has other locations in the city, including a community sports facility at Canal Park, a large base in One Canal Parade, and its Arts Academy on neighbouring Trade Street.
The acquisition of St William House coincides with the college's £119 million investment that is delivering new campuses in the Vale of Glamorgan for thousands of students. Its new Barry waterfront campus, a community-focused college in the heart of the town, will replace its existing ageing Colcot Road campus. Its Advanced Technology Centre near Cardiff Airport will meet the skills needs of employers, apprentices, and those working in advanced technologies. Both campuses are scheduled to open in September 2027.
The college currently has more than 33,000 students, a number that continues to grow.
Cardiff and Vale College group chief executive Mike James said of the property acquisition: "We are delighted to have secured this landmark building. Over the last decade, this area has proved a popular, vibrant, and accessible location for the community and employers across our region. The prime location and scale of this site provide incredible potential to further support us in improving the quality and sustainability of our estate in a cost-effective way and grow the offer of high-quality teaching and learning we provide."
The college's new campuses in the Vale are mainly being financed through the Welsh Government's mutual investment model (MIM), with construction costs repaid over a 25-year period. The college's committed financial contribution to both projects is around 19%, which will include proceeds from the sale of its existing Colcot Road campus site. This is the first time the Welsh Government has used MIM to fund a college project.
