Apartments Plan For City Centre Cinema Site

Apartments Plan For City Centre Cinema Site
Sep 6 2007 by Sion Barry, Western Mail

PART of a city-centre leisure complex could make way for a 260-unit apartment project in Cardiff if a property developer’s plans materialise.

As part of the ambitious project, Cardiff-based property development company Hawtin plans to also create a 30,000 sq ft casino at the Millennium Plaza entertainment complex next the Millennium Stadium.

Hawtin, which is listed on London’s Alternative Investment Market, said the scheme’s current cinema complex, operated by Vue, would make way for the apartment project and potentially a casino as well.

The chief executive of Hawtin, Richard Hayward, said, “We are looking at building 260 units where the current cinema complex is, with an option for some car parking on the site as well.

“The apartments, over eight floors, would be in the £150,000 price range, creating a vibrant community in area of the city centre which has been somewhat neglected, with the focus currently on the St David’s 2 scheme.We are in a position to submit a planning application within three months.”

Mr Hayward, who also runs his own highly successful privately owned property development and investment company – Richard Hayward Properties – confirmed that Stanley Leisure was interested in operating the proposed casino at Millennium Plaza, with talks also taking place with a local operator.

Millennium Plaza already has planning consent for a casino and approval from the Gaming Control Board, but a licensing application was recently rejected by Cardiff magistrates.

Newport-born Mr Hayward, said, “The rejection was based on the argument of no need, which we found surprising as Cardiff had been bidding for a supercasino.

“We are hopeful of a successful appeal as Swansea, with its regional casino [Aspers] has stolen a march on Cardiff in this area.”

Since taking over as chief executive of Hawtin last year, Mr Hayward that the business was now in position to make the required jump to becoming a sizeable UK-wide property company.

He added, “It has been a battle royal and there was initially resistance, but we have gone from being a £10m [based on value of assets] company to a £70m one.

“However, we no longer want to be doing a plethora of £1m deals. The challenge now is for Hawtin is to do deals in excess of £100m, which is very exciting.

“In the Welsh marketplace we are a significant business, but when you look at the assets of some London-based property companies then we are insignificant. However, we are ambitious and looking to the future with real confidence.”

His privately owned company has this year concluded sales and acquisitions in the property sector to the value of £250m.

Hawtin acquired Millennium Plaza last year in a £1m-plus deal.