THE developer behind plans to build Wales’ tallest building said its project has been on hold due to challenging wider market circumstances.
Watkin Jones’ plans to build the 42-storey skyscraper were approved by Cardiff Council in 2016.
It was initially hoped that the building would be completed by 2018.
However not one floor out of the 42 currently proposed has been built on the site off Custom House Street and Bute Street.
In a statement Watkin Jones said: “Our business continues to consider the future development potential for this site which has been on hold due to challenging wider market circumstances.
“It is too early to offer comment on the potential future form or completion date of the building.”
The latest publicly available record on Cardiff Council’s website of any work having been completed on the site is an application for a lawful development certificate which was approved by the council in 2021.
This confirmed that work had started on the development in the form of the installation of 10m of drainage and a manhole.
When plans for the tower block were revealed, the proposal was for it to provide student accommodation in the form of 447 bed spaces.
The plans also proposed space for a retail unit.
If the building is completed without any future applications being put in for a taller skyscraper it will be the tallest building in Wales at 132m.
Currently the tallest building in Wales is the Meridian Tower in Swansea which stands at 107m tall.
Cardiff’s sky-line has changed significantly in recent years and looks set to continue its rapid rate of transformation.
Cardiff Council on Thursday approved plans for a 35-storey building in Wood Street in Cardiff which will be 113m in height.
The building will contain 364 apartments and space on the ground floor for commercial activity.
New HMRC tax offices, a new university building, and the new BBC Cymru headquarters have been built in Central Square.
Plans for two high-rise buildings were approved for land where the former Brains brewery used to be in June 2022.
The mixed-use buildings will provide 700 apartments and more than 2,000sqm of floor space between them.
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