Legal & General invests €231.7m in Cardiff BTR

Legal & General (L&G) has invested a further €231.7 million ($231.0 million) in Cardiff to deliver 715 build-to-rent (BTR) apartments at the former Brains Brewery site in Central Quay, situated in a prominent location adjacent to Cardiff train station.

The development will be delivered in partnership with Watkin Jones and Rightacres, the landowner.

The BTR development at Central Quay will consist of a mix of studio and one-, two- and three-bedroom units and includes facilities such as a concierge, lobby, gym, gardens and terraces, as well as about 19,500 square feet of leisure and retail space. Central Quay is Legal & General’s third transaction in the last 18 months with residential rental specialist Watkin Jones, which brings both customer insight and expertise in delivering sustainable homes in key regeneration locations.

“Investing long-term capital in what society needs has never been more important.  For the past decade, Legal & Gen