One of Cardiff’s oldest and most iconic buildings is set to be transformed by the WRU in partnership with Cardiff based property development company, Rightacres (“RAP”) and Legal & General
Cardiff’s most luxurious hotel is being funded by Legal & General, on behalf of Legal & General Retirement Institutional, as part of its ongoing investment into the regeneration of Central Square.
The development will also include the former Inland Revenue building, later known as the County Court, already owned by the WRU and the existing buildings will undergo significant transformation and refurbishment and be known as The Westgate Hotel.
Building work will restore, preserve and enhance the historic features of both buildings to include 165 bedrooms, fifteen VIP suites, two restaurants, a luxurious rooftop spa with outside Jacuzzi as well as meeting facilities and a ballroom for 400 guests.
Martyn Phillips, Chief Executive of the WRU, said:
“Principality Stadium is internationally recognised as an iconic destination for rugby and many other sports, music and live events by fans from around the world.
“Developing this new hotel will allow us to diversify and supplement our current Stadium-based hospitality and conference offering with the additional revenue generated through this business re-invested back into the game at all levels.
“Under the WRU’s new governance structure our Professional Rugby Board has direct access to all commercial revenues and this new venture is the perfect example of how the future sustainability of our professional game can be secured.
“The long term financial gain generated by the Westgate Hotel will be a direct shot in the arm for the PRB as it decides upon the reallocation of funds to the professional game in the years ahead.
“The Westgate Hotel will also be a major asset in the Principality Stadium facilities and events portfolio and highlights both the scale of ambition and potential for growth of Welsh rugby.”
The Westgate Hotel is in close proximity to both Principality Stadium and the 1.5 million sq ft Central Square regeneration project which was also led by RAP and Legal & General.
Paul McCarthy, Chief Executive of RAP said: “There is no doubt that central Cardiff has been missing a luxury hotel for a long time and this is a special opportunity to bring activity and vibrancy back into the iconic Post Office building.
“Given that this project involves the restoration of an historic building, each guestroom will have its own unique layout with distinct features including the original turrets, eaves, windows and skylight”
Subject to planning and listed building consent, construction work will begin in June this year with the Hotel scheduled to open in December 2020.
Tom Roberts, Head of Strategic Investment at Legal & General said: “We are delighted to be funding what is widely regarded as the best hotel site in Cardiff and entering into partnership with the WRU and RAP.
“It is a unique opportunity to create a rare long income cashflow while facilitating the development of a new market-leading hotel in one of the fastest growing capital cities in Europe and top UK cities with the added advantage of being adjacent to Principality Stadium.
“There are also clear benefits to having a hotel of this quality alongside our substantial current investments in Central Square.”
