Nick James outside the new premises, on Sneyd Street
Cardiff estate agent, Moginie James, has completed on a new office in Pontcanna, creating five new jobs and marking the start of a significant expansion plan for the firm.
Building work to redevelop the interior of the 1150-square-foot site, on Sneyd Street, has already begun, with Moginie James intending to open the new branch in September.
This new opening is Moginie James’ fifth branch across Cardiff, and the agency’s first move into the west of the city. This move into new territory is an important step in the agency’s expansion strategy, which aims to increase the total number of branches to eight, in Cardiff and further afield, by early 2017.
Five new jobs will be created as a result of the new opening, and Moginie James is currently inviting applications for positions from managers through to sales and lettings consultants.
Nick James, director of Moginie James, said: “This is a very exciting step for the company, and the start of a new era for Moginie James. With our head office in Cyncoed, we have always been traditionally located east of the city with branches in Roath, Cathays and Cardiff Bay.
“We’ve been looking to move into the west side of the city for more than five years, but it’s been a case of finding the right space and we didn’t want to compromise on location.
“We are delighted to have finally secured premises in the heart of Pontcanna, which is a vibrant and dynamic part of Cardiff with a great sense of community, and a buoyant property market as regards both sales and rental. It is a part of the city that people strongly aspire to call home, and I am delighted that we can now do the same.”
The latest Nationwide House Price Index report, published earlier this month, showed that the average price of a home in Wales rose to £145,812 in June. While this is lower than the UK average of £188,903, it is an increase of 9.3% on this time last year.
Nick James continued: “The property market is the healthiest it has been for a long time, and confidence has been helped by initiatives introduced by the Welsh Government such as the Help to Buy and Mortgage Guarantee schemes. Our pipeline is certainly the biggest it has ever been and we are currently forecasting record profits this year.
“However, the new mortgage regulations and stricter application process introduced in April following the Financial Conduct Authority’s Mortgage Market Review is already applying the brakes to the market, and we have noticed a slight slowing. Although mortgages are taking longer to get approved, market activity remains strong and very encouraging.”
Moginie James’ Pontcanna office will open in September 2014 and will provide sales and lettings services, as well as the agency’s high-end property sales division, Fine & Country.
Moginie James has four offices across Cardiff which specialise in residential sales, lettings, property management and the investment markets. For further information visit www.moginiejames.co.uk.
