Schroders drives new leisure focus for Mermaid Quay
Schroder UK Real Estate Fund has signed a deal to introduce Cosy Club to Mermaid Quay, the 150,000 sq ft mixed-use destination on the waterfront in Cardiff Bay, as the fund continues its multi-million pound strategic repositioning of the scheme.
Cosy Clubs offers informal casual dining, drinking and lounging in a family friendly setting. It will be opening its second Cardiff restaurant at Mermaid Quay, taking a 4,435-sq ft restaurant on a 15-year lease. Located alongside a popular mix of F&B brands, it will also have a 500-sq ft outside seating area at Tacoma Square, the scheme’s waterfront promenade.
This letting follows the recent announcement that Everyman will be opening an 11,500-sq ft boutique cinema at Mermaid Quay, its first in Wales, and is in keeping with the repositioning of both the scheme and Cardiff Council’s ambitious vision for the future of the Bay.
SREF investment manager Harry Pickering said: “Welcoming Cosy Club to Mermaid Quay is testament to SREF’s repositioning of the scheme and the confidence that occupiers have in our vision for the bay-side location. Cosy Club’s enviable position, on Tacoma Square, overlooking the waterfront, is perfectly placed to benefit from the public realm works that are taking place throughout the asset. We look forward to announcing further lettings as more occupiers recognise the potential of this unrivalled location.”
Savills and Reid Rose Gregory acted for SREF.