2 Cathedral Square

Project Overview

Led the acquisition of over 106,000 sq ft mixed used property, when acquired with 1 Cathedral Square, in June 2021 with the support of a real estate private equity investor and a local consortium. 

Project Detail

The business plan involved the development of upper floor offices in 2 Cathedral Square into alternative use, leasing vacant commercial units on the ground floor and the re-negotiation of a key office tenant in 1 Cathedral Square.

Permitted development rights were obtained in April 2022 for 35 residential units in the existing vacant offices.  A pre-application process was then undertaken with the local council and stakeholders for larger development, comprising additional floors and further residential units.  Following a detailed planning consultant and engagement with local stakeholders, planning consent was obtained in June 2025 for a 135 room aparthotel including business lounge and guest facilities.

Following the re-negotiation of the lease with the office tenant in 1 Cathedral Square, this element of the property was sold to a third party.  Monument also continue to manage this property on behalf of its investor.