Supporting a regenerated Victorian heritage building in Cardiff

How we helped 

Working with The Maltings for over 20 years, this commercial investment project is unique and steeped in history.  

Located between Cardiff city centre and Cardiff Bay, the site was previously a malt house built in 1887 for Cardiff Malting Co. Following a £7million refurbishment between 2010 and 2019, this Grade 2 listed building now operates as Space2B at The Maltings offering contemporary working spaces for over 100 businesses.  

Principality has supported the development by supplying commercial investment funding. 

Gareth Oram said: "With the support of Principality's funding, we have successfully transformed The Maltings into a vibrant hub for businesses in Cardiff. The refurbishment has allowed us to preserve the building’s historical character while creating a modern, flexible workspace that meets the needs of today’s entrepreneurs and SMEs. We’re proud to provide a dynamic environment for over 100 businesses, supporting their growth and fostering a sense of community."

Nick Williams, late Chairman of The Maltings, had previously written the following in an email to Gareth in 2018 and the sentiment is still as valid today as it was then, “The provision of funding for the Maltings to convert itself from a business which started in the 1880s to being at the cutting edge of space provision in the 2020s would not have been possible without the unwavering support from the Principality Building Society who have remained consistent through the ups and downs of business cycles.  
To me consistency of provision of banking facilities is the foundation of being able to plan ahead and grow properly.  I and my colleagues thank them”.

More about this project 

This project perfectly aligns with Principality’s aim to support thriving communities. 

Co-working space, office and event spaces and meeting rooms are available to accommodate start ups and SMEs. A secure document storage facility is also managed from The Maltings.  An onsite coffee house and gym have been added as member benefits as the site has continued to thrive. And, as an environmentally friendly scheme, the Maltings has a shuttle bus to the city centre and, more recently, has added electric car charging stations.

Stephen Ryan, Senior Portfolio Manager, at Principality Commercial said: “We have provided funding to The Maltings and other associated businesses of Nick for over 20 years now.  The relationship approach fostered by Nick and the Society over that time has seen our relationship grow and strengthen with the current management team to ensure his legacy continues. We are delighted to see the business continue to thrive.”