Capital & Regional, manager of The Junction out-of-town retail fund, has been selected as Cardiff City Football Club’s partner for the development of its new stadium at Leckwith.
To finance the stadium, Capital & Regional will build 400,000 sq ft (37,160 sq m) of retail space.
The 32 acre (13 ha) site is being acquired by Capital & Regional under a long lease from Cardiff City Council at a peppercorn rent.
As part of the redevelopment proposals for the football stadium, the council has granted planning consent for 300,000 sq ft (27,870 sq m) of retail warehousing, as well as a 100,000 sq ft (9,290 sq m) food store.
The scheme will also feature an athletics stadium and residential property, including community housing.
Work on the retail development is expected to start on site in the autumn, with completion anticipated by autumn next year.
The Junction chief executive officer Andrew Lewis-Pratt said the company already had a strong track record in building retail alongside football stadiums.
‘This acquisition, together with our Swansea retail park, brings our retail holding in Wales to more than 750,000 sq ft,’ he said.
Cardiff City Football Club managing director David Temme said: ‘This marks the next step in realising the development. Securing a well- respected developer such as Capital & Regional to our Leckwith project is of massive benefit to everyone’.