REAP 3, a subsidiary of specialist build to rent developer BlueCastle Capital, aims to replace its previously approved 35-storey scheme with a much taller mixed-use tower next to Cardiff Central Station and the Principality Stadium.
This new approved proposal includes 528 build-to-rent flats, made up of 344 one-beds and 184 two-beds, along with an associated two-story Pavilion building with commercial space including restaurants.
Located between Wood Street and Rose Lane in the Central Square regeneration area, the building would dwarf the current record-holder, Swansea’s 29-storey Meridian Tower.
The new building would have two staircases and five lifts
REAP 3 said the landmark development is designed to cope with high footfall, particularly on matchdays when up to 80,000 people pass through the area.
Central Square tower project team
Architect: 5plus; structural and MEP engineer, WSP; cost consultant, Gleeds, BREAAM adviser RLB
BlueCastle has assembled a multi-city pipeline of build-to-rent towers but is still working to bring its first wave of schemes through to construction.
Presently, its development pipeline stands at around 2,500 units across five projects.
BlueCastle Capital build to rent pipeline
Scheme
Location
Scale
Status
Central Square tower
Cardiff
528 flats in 50-storey tower
Planning consent
Farm Road
Sheffield
Around 409 flats
Planning stage
The Forum
Stevenage
225 flats in 21-storey tower
Planning secured, work to start 2026
Pavilions redevelopment
Birmingham
Flats scheme at former M&S store
Early development stage
Former Yorkshire Post site
Leeds
348 flats
Site acquired February 2026, development planning stage
