The Admiral Insurance Group (AIG) from the USA is the occupier of this 400,000 ft² building constructed by Sir Robert McAlpine in the city centre of Cardiff. It serves as AIG’s new UK Headquarters, which accommodates over 3,000 staff, next to the St David Shopping Centre.
The building was forward purchased with the benefit of a 25 year AIG lease and put in place by the German Fund, Union Investments of Hamburg. DML undertook a full technical and environmental appraisal of the proposed development in support of Union’s pre-acquisition due diligence. All key architectural, MEP and structural issues were reviewed to ensure the scheme’s viability.
DML was subsequently retained throughout the construction of the new 16 storey building up to Practical Completion in July 2014.
Tŷ Admiral (the building’s official name) is the tallest office structure in Wales. The building has been named the best corporate workplace by the British Council for Offices (BCO) in their annual regional property awards. BCO praised the building for making a striking architectural statement in the heart of the city.
Acquisition & Monitoring
Mixed Use - Office and Commercial