Watkin Jones has achieved practical completion on Phase 1 of its 718-unit Build to Rent (BtR) development at Tai Afon in Central Quay, Cardiff. The major residential scheme has been forward funded by L&G.

The overall development comprises 718 homes, split across 402 units in Phase 1 and 316 units in Phase 2, offering a mix of studio, one, two, and three-bedroom apartments. Once the entire site is finalized later this year, resident amenities will include a games room, work from home space, a private dining room, podcast studios, a cinema, yoga and spin studios, a gym, and roof terraces. The public realm will feature a public square overlooking the River Taff, alongside 650 square metres of filtered water gardens and over 19,500 square feet of ground-floor commercial space.

The £200 million investment at Central Quay is a vital component of a broader £1 billion regeneration scheme in Cardiff, designed to address the city's growing demand for rental housing. Positioned a short walk from Cardiff Central station, the Principality Stadium, and the city centre, the Tai Afon development occupies a highly connected site in the capital, which benefits from strong transport links to London, Bristol, and Bath.

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Reflecting the shared ESG priorities of Watkin Jones and L&G, the project incorporates future-focused sustainability features, including roof-mounted solar panels and energy-efficient air-source heat pumps to supply electricity and hot water.

Gwyn Pritchard, Managing Director, Watkin Jones, said: "We are delighted to announce the practical completion of Plot 1 (402 apartments) at Tai Afon, Central Quay in Cardiff, marking a major delivery milestone for this transformative regeneration scheme. With delivery in line with our planned schedule of the summer of 2026, this achievement demonstrates the strength of our project team, the depth of our expertise, and our commitment to delivering high-quality homes at scale and at pace.

"Central Quay is a significant development project in Cardiff, and with its prime location, sustainable design credentials and excellent connectivity, offers compelling long-term value for L&G and its residents.

"As we progress toward completion of Plot 2, we remain focused on delivering a vibrant, high-quality destination that supports the city's growth and provides attractive, sustainable homes for future residents."

Adam Burney, Head of Multi Family BTR and PBSA, Asset Management, L&G, commented: "The completion of Plot 1 at Tai Afon marks an important step in our long-term regeneration activity in Cardiff. With the city's employment base expanding, high-quality rental homes are vital for ensuring young professionals can live, work and build their futures here. With national housing supply still falling short of demand, sustained investment in new homes is essential and this scheme will contribute to a vibrant, revitalised community to support Cardiff's continued economic growth and job creation."