Key Points
- Draycott Group has secured a £67.2m facility from Close Brothers Property Finance to deliver a 340-unit build-to-rent (BTR) scheme in Cardiff.
- The Harlech Court development will be built on the site of a former purpose-built office block in Cardiff city centre.
- The scheme has a gross development value (GDV) of more than £100m and will include one- and two-bedroom apartments.
- Residents will have access to a co-working area, meeting room, gym, residents’ lounge and sky lounge.
- The 30-storey building is set to be one of the tallest buildings in Wales.
- Close Brothers chief executive Phil Hooper described the project as a landmark development in an excellent central location.
- Draycott chief executive Sajid Ghaffar said it is the largest scheme the company has delivered to date.
- Wales’ BTR market grew by 16% in units between Q1 2025 and Q1 2026, while the planning pipeline increased by two thirds.
Cardiff (Wales Times) August 24, 2026 – Draycott Group has secured a £67.2m facility from Close Brothers Property Finance to deliver a 340-unit build-to-rent (BTR) scheme in uk/local/cardiff/">Cardiff with a gross development value of more than £100m.
- Key Points
- Who are the key players behind the Cardiff BTR scheme?
- How large is the Draycott Group Cardiff development?
- What amenities will Harlech Court offer residents?
- How does this fit into Wales’ BTR market growth?
- Background of the Cardiff BTR development
- Prediction: How this development can affect Cardiff renters and investors
Harlech Court, a prime city centre scheme, will be built on the site of a former purpose-built office block. It will comprise one- and two-bedroom apartments and amenities including a residents’ co-working area, meeting room, gym, residents’ lounge and sky lounge. The 30-storey building is set to be one of the tallest buildings in Wales and reflects Close Brothers’ growing appetite for larger-scale transactions in the region.
Who are the key players behind the Cardiff BTR scheme?
As reported by Property Week, Phil Hooper, chief executive of Close Brothers, says:
‘Harlech Court is exactly the type of scheme our structured finance team was set up to back: a landmark development in an excellent central location in a capital city that continues to see strong demand for quality rental stock.’
Draycott chief executive Sajid Ghaffar added: ‘This is the largest scheme that we have delivered to date and it will transform the Cardiff city skyline. Cardiff is a market we know extremely well, having been active in residential and commercial property development for over 40 years, and Harlech Court builds on that long-standing track record.’
How large is the Draycott Group Cardiff development?
The development will deliver 340 build-to-rent units with a gross development value exceeding £100m, funded through a £67.2m facility from Close Brothers Property Finance. The 30-storey tower will be among the tallest buildings in Wales, marking a significant addition to Cardiff’s city centre skyline.
What amenities will Harlech Court offer residents?
The scheme will include a range of resident-focused amenities designed for modern living, including a residents’ co-working area, meeting room, gym, residents’ lounge and sky lounge. These facilities align with the build-to-rent sector’s emphasis on providing comprehensive lifestyle offerings alongside rental accommodation.
How does this fit into Wales’ BTR market growth?
In Wales, the BTR market has grown over the last year, with a 16% increase in units (completed, under construction and in planning) from 3,296 in Q1 2025 to 3,824 in Q1 2026. The number of units in planning has grown by two thirds over the same period, indicating strong developer and investor interest in the Welsh build-to-rent sector.
Background of the Cardiff BTR development
The Harlech Court scheme represents a continuation of Cardiff’s regeneration trajectory in the city centre, repurposing a former office block site for residential use. Draycott Group has been active in residential and commercial property development in Cardiff for over 40 years, according to chief executive Sajid Ghaffar. The project aligns with broader trends in the Welsh BTR market, which has seen significant growth in both completed units and planning pipeline over the past year. Close Brothers Property Finance has indicated growing appetite for larger-scale transactions in the region, with this £67.2m facility reflecting confidence in Cardiff’s rental demand.
Prediction: How this development can affect Cardiff renters and investors
The Harlech Court development is likely to increase the supply of purpose-built rental accommodation in Cardiff city centre, potentially offering more choice for renters seeking modern amenities and central locations. For investors, the scheme’s positioning as a landmark 30-storey tower with extensive amenities may attract institutional interest in Welsh BTR assets, particularly given the 16% growth in Wales’ BTR units over the past year. The addition of 340 units could also contribute to stabilising rental availability in the city centre, though the overall impact will depend on the pace of completions and absorption rates. For local residents, the development may bring enhanced street-level activity and regeneration benefits, though traffic and infrastructure implications will depend on the final design and transport connections.
