Cardiff Council has acquired the 29 acre former gas works site in Grangetown, Cardiff.
Property consultancy Knight Frank assisted with the acquisition of the Ferry Road site on behalf of Cardiff Council from vendors National Grid and Wales and West Utilities.
The Council intends to deliver a Council-led mixed tenure development of up to 500 new homes on the site as part of its target of delivering 2,000 new homes in Cardiff, 1,000 of which will be completed by 2022.
Leah Mullin, associate in Knight Frank’s residential development team, said:
“The site is a key strategic acquisition for Cardiff Council. The site will form part of a wider regeneration being undertaken by Cardiff Council and help deliver housing to Cardiff.”
Cabinet Member for Housing and Communities, Cllr Lynda Thorne, said: “The acquisition of this site allows us to build more high-quality sustainable homes that are close to local amenities and open spaces helping us deliver an ambitious and wide-ranging regeneration in Grangetown.
“Work is already underway at the nearby Channel View estate which will provide better connectivity to green spaces and facilities and improved sustainable transport networks for existing residents, as well as much needed additional affordable housing for the local community. We now have the opportunity to link these two developments and deliver a truly transformative regeneration of this part of the city.
“The Ferry Road gas holder is a well-known Cardiff landmark and I think it’s very exciting that the structure will be incorporated into the development of site, retaining a key part of Cardiff’s heritage.”