Thursday 7 July 2016

HMRC Scores Largest Cardiff Property Deal of The Year


As the commercial property bubble appears to have been pricked by Brexit, I see that HMRC in Cardiff has just secured the largest property deal of the year in Cardiff with Cooke & Arkwright.

HMRC has completed on 54,587 sq ft at Brunel House.

HMRC has an ongoing long term requirement for its Welsh regional hub, bringing new work to Wales and accommodating up to 3,800 full-time posts in the city centre by 2019.

Brunel House is managed by Mercer Real Estate Partners. Alex Hardwick, from Mercer, is quoted by Wales Online:
We are delighted to have secured such a substantial letting to the building within such a short timeframe of taking over the building, and look forward to welcoming HMRC to Brunel House."
Meanwhile...

In Dramatic Twist, UK Property Fund Cuts Value Of Its Assets By 17%


Tax does have to be taxing.

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5 comments:

  1. I wonder when they'll get round to letting staff know?

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    Replies
    1. And what has it got to do with the staff?

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    2. Ermm.... Maybe they'd like to know where HMRC expects them to be working in five years time, when they close every other office in Wales!?

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    3. ...but staff are the last concern to the 'leaders'. Maybe they'll give staff a few weeks notice if they're 'lucky', but management would not have a plan for 5 years time, they probably don't know the general direction of the department for next week.

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  2. Yes quite not much point having an office without staff in it..although with shift work the new norm and no prospects of a pay raise how many staff they can retain in it is a different matter. Minimum wage of £9 / hour you can just work round the corner of home at the co-op.

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