30-Storey Cardiff Tower Finance Deal Agreed for £67m 2026

Key Points

• Close Brothers Property Finance has completed a £67.2m structured lending facility for developer Draycott Group.
• The funding will finance Harlech Court, a 30-storey Build to Rent development in Cardiff city centre with a gross development value of more than £100m.
• The scheme will provide 340 apartments and, once complete, will be among the tallest residential buildings in Wales.
• Intelle Construction is the main contractor, while Stephenson RC Frames is delivering the reinforced concrete superstructure.
• Construction has reached the structural frame stage, with the main tower crane now installed on site.

Inverted Pyramid Reporting Structure

Cardiff (Wales Times) August 25, 2026 — A multi-million-pound funding agreement has been finalised to build one of the tallest residential towers in Wales. Specialist lender Close Brothers Property Finance has agreed a £67.2m structured debt facility to support regional developer Draycott Group in delivering Harlech Court, a 30-storey Build to Rent skyscraper in uk/local/cardiff/">Cardiff city centre. The project holds an overall gross development value surpassing £100m and will supply 340 private rental apartments directly into the capital’s housing pipeline.

The financial completion marks a critical milestone for the Welsh urban regeneration market. On-site delivery has formally accelerated, with the primary tower crane erected on Bute Terrace to commence vertical frame construction.

How Was the £67.2m Harlech Court Funding Package Structured?

As reported by Aaron Morby of Construction Enquirer, Close Brothers Property Finance finalised the £67.2m facility to back Draycott Group’s high-density development, confirming that Intelle Construction has been appointed main contractor alongside Stephenson RC Frames as reinforced concrete frame specialist.

Detailing the transaction, Chiara Caldwell, Director of Structured Finance at Close Brothers Property Finance, stated:

“Harlech Court brings together two areas I am particularly focused on: using Structured Finance to support larger, more complex Living sector schemes, and continuing to grow our regional reach across the UK. It is exactly the type of transaction we established the Structured Finance team to support, a landmark scheme in a strong regional market, delivered by an experienced local sponsor with deep roots in Cardiff.”

Caldwell further noted that the transaction was executed in partnership with Sajid Ghaffar and the executive team at Draycott Group to fund urban rental stock alongside dedicated communal infrastructure.

What Specifications and Amenities Are Planned for the Skyscraper?

As documented by the planning authority records and reported by Invest in Cardiff, the tower will provide 340 build-to-rent units predominantly configured as one- and two-bedroom apartments designed for urban workers.

The approved architectural plans feature roughly 5,300 sq ft of indoor communal amenity space and 2,500 sq ft of landscaped outdoor facilities:

• Dedicated co-working suites and private conference meeting rooms.
• Fully fitted residents’ gymnasium and fitness studio.
• Communal resident lounges alongside a dedicated top-floor sky lounge offering views over Cardiff Bay and the city skyline.
• Multi-tier landscaped external roof terraces situated across the 20th and 21st levels, paired with ground-level public realm enhancements.

Background of the Harlech Court Regeneration Scheme

The Harlech Court plot occupies a prominent footprint on Bute Terrace in Cardiff city centre. The location previously housed a 1970s commercial office building and the grassroots live music venue Porter’s.

As reported by local democracy correspondent Ted Peskett for Nation Cymru, redevelopment concepts were initially floated in 2021 as a potential 35-storey tower before Draycott Group refined the massing down to a 30-storey profile during public pre-application consultations. Cardiff Council granted planning consent for demolition in July 2024, followed by full planning approval for the residential skyscraper. The site clearance concluded in 2025, facilitating ground-engineering works ahead of senior debt syndication.

Prediction: How Will This Development Impact Cardiff’s Housing Market and Tenants?

The delivery of Harlech Court will have three distinct structural impacts on the local Cardiff economy, institutional investors, and prospective tenants:

• Relief for City-Centre Rental Supply: Cardiff faces persistent shortages of purpose-built residential accommodation. Adding 340 professionally managed BTR units will increase rental options for young professionals and key workers seeking housing near Cardiff Central railway station.
• Institutional Capital Validation: Securing a £67.2m development facility in an era of stringent borrowing criteria demonstrates lender confidence in regional UK metropolitan hubs outside London and Manchester. Successful execution is likely to encourage further institutional investment into South Wales high-density residential assets.
• Urban Skyline Transformation: Standing at 30 storeys, Harlech Court will permanently reshape the capital’s architectural silhouette, setting modern environmental and engineering benchmarks for future tall building applications submitted to Cardiff Council.