Contracts have been completed between the Welsh Government and leading Cardiff Property Developer JR Smart, paving the way for a £100 million building scheme.

The potential 250,000sq.ft. development named John Street – Callaghan Square is set to create around 100 jobs during the construction phase with the capacity to create up to 1000 plus jobs when completed.

Economy Minister Edwina Hart described it as an exciting new addition for the Enterprise Zone.

Mrs Hart said: “I am delighted to see the private sector is maintaining the momentum and continuing to invest in the Central Cardiff Enterprise Zone to ensure it delivers new jobs, attracts new investment and provides a great environment for business growth.

“JR Smart has made significant investment in the Enterprise Zone which is making a major contribution towards creating one of the UK’s premier locations for business, with a specific focus on the financial and professional services sector.

“Their plans for a mixed use development are very welcome and will enhance the overall offering for business, creating new high quality office accommodation while the hotel and residential elements will contribute to the overall vibrancy of the Business District.”

John Smart, Chairman of JR Smart said: “The John Street site represents a key part of the Enterprise Zone and City Centre and we are currently working up some exciting plans for a mixed use scheme. We are aligned with the Welsh Government and Cardiff Council in ensuring that the growth and success of this key part of Cardiff continues to move forward.”