Insurance software specialist moves to 3 Assembly Square offices in Cardiff Bay: Knight Frank

Global insurance software provider Sapiens has moved its Cardiff office to 3 Assembly Square in Cardiff Bay.

The company has signed a 10 year lease on a 7,374 sq ft 4th floor office in the multi-let Parmer Cardiff Waterside building at a headline rent of £23 psf.

Sapiens (UK) Insurance Software Solutions Ltd is a leading global provider of software solutions for the insurance industry, with UK offices in London, Uxbridge and Cardiff. It’s Cardiff office was previously in the nearby Caspian Point building.

The Grade A six-storey 3 Assembly Square is located adjacent to the National Assembly for Wales’ Senedd Building, with striking views over Roath Basin and Cardiff Bay. Other tenants in the 65,765 sq ft  building include ITV Wales, Life Science Hub, KPMG, Knight Frank, and major local legal practice Acuity, which has just renewed its lease on 10,000 sq ft of office on the 4th and 5th floors for a further five years. Acuity shares its office space with Gambit Finance, which has also renewed its lease.

Mark Sutton, partner at Knight Frank in Cardiff, said:

No 3 Assembly Square is the prime office building in Cardiff Bay and the latest deals highlight the attraction of waterside working locations and occupiers looking at the wider environment and opportunities for staff outside of the workplace. Knight Frank moved into the 3 Assembly Square building last year and I can vouch personally for the quality of the space and the waterside environment at Parmer Waterside – moving to new premises definitely gives occupiers a major boost and that’s certainly been our experience.

Ben Bolton of Cooke & Arkwright, who represented Sapiens in the transaction, said:

Sapiens have been a long standing tenant on the waterside estate and following comprehensive assessment of a broad list of options around the city agreed a move to 3 Assembly Square was the best solution for them.”

Acuity director Jonathan Geen commented:

We have been a tenant at 3 Assembly Square for the past 10 years having been one of the first occupiers in the building. Our staff really like this building, the quality of the working environment, and the easy access to the many excellent cafes, bars and retail outlets that line the Bay – we are very happy in 3 Assembly Square.”

The landlord of the Parmer Cardiff Estate is advised by property consultancies Knight Frank and Cushman & Wakefield.  Mark Sutton of Knight Frank said:

“3 Assembly Square remains one of Cardiff prime office buildings and offers tenants quality office space in a waterside location with fantastic views over Cardiff Bay. The landlord has taken a very proactive approach to refurbishment across the development and has only just completed major refurbishments in Caspian Point and Emperor House.”

Chris Terry, associate director of Office Agency at Cushman & Wakefield, commented:

“Following the recent acquisition of Parmer Waterside, Global Mutual has completed comprehensive refurbishment works to the offices and common areas with the estate which provide tenants high quality office accommodation set within a waterside environment with generous car parking. It is a sign of confidence in the quality product that existing occupiers are keen to remain within the estate, and there remains strong demand from tenants wishing to relocate to Parmer Waterside where there are opportunities for business of all sizes, and contemporary space from 500 to 30,000 sq ft.”

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