BlueCastle Capital was set up Welshman Ed Williams and sees huge growth potential for build-to-rent schemes

The developer behind what will be the tallest building in Wales has an appetite for further projects. Last week BlueCastle Capital, whose founder Ed Williams was born and raised in Cardiff, secured planning consent for its 50-storey scheme at the last development site (plot 5) at the mixed-use Central Square development around Cardiff Central Station.

At 178 metres high it will be the second tallest building outside of London – behind the 200 metre Deansgate Square South Tower in Manchester. The development will consist of 528 build-to-rent apartments, as well as a standalone two-storey pavilion providing 6,500 sq ft of commercial and restaurant space.

The scheme, designed by 5plus and Layer Studio, will offer a range of amenities, such as a gym, co-working space, a wellness area, a roof terrace, a bike hub, a café and landscaped public spaces.

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Planning approval from Cardiff Council follows public consultation and builds on a previously consented 35-storey scheme.

Barry Coltrini, development director at BlueCastle Capital, said: “This is a milestone for our Cardiff project and for the transformation of Central Square. The consent allows us to bring forward a landmark building that will deliver high-quality, sustainable homes and meaningful public spaces, while contributing long-term social, economic and environmental value to the city. We are grateful for he constructive engagement with the council, local community and wider stakeholders throughout the planning process”.

To date, BlueCastle has invested approximately £70m in acquiring and progressing its five build-to-rent development sites, which together will deliver around 2,500 new homes across Cardiff, Leeds, Birmingham, Stevenage and Sheffield.

On the potential for further project in Wales, over the long-term Mr Williams, who attended Cardiff High School, said “We are committed to Cardiff as a location and see huge potential for the build-to-rent sector within the city .”

Blucastle said it was not yet in a position to confirm when work on the scheme could start and be ready for occupancy.

The projected capital cost of its inaugural Welsh scheme has not been disclosed, while it said the level of rental income would be decided by market rents at the time of its launch.

However, once operational the company see it as a long-term investment hold. Mr Williams said: “BlueCastle’s business model is to be a fully integrated developer and asset manager with involvement in the value creation process from site selection and acquisition all the way through to long term ownership.

Following a career in equity markets with Merrill Lynch, Mr Williams, founded BlueCastle Capital in 2015. The London-based company has structured, developed and asset managed more than £3bn worth of real estate projects.

The UK build-to-rent sector is one of the fastest-growing sectors in UK real estate attracting around £4.7bn in 2025. BlueCastle believes it is well placed to become one of the UK’s leading developer and operator of build-to-rent assets.

Last month its acquired the site of the former Yorkshire Post headquarters in Leeds, pushing the its build-to-rent development pipeline to £1.1bn.

Mr Williams, who attended Cardiff High School, said: “Pushing our development pipeline beyond £1bn is a significant moment for the business and reflects the scale of our ambition in UK build-to-rent. We believe we are building the highest-quality build-to-rent development pipeline in the UK, with each site selected for its location, fundamentals and long-term relevance to renters.”

Bluecastle acquired plot 5 from Cardiff-based property development firm Rightacres Property. The value of deal was not disclosed, but is understood to have been in the region of £15m. Over the last decade Rightacres has delivered 1.25 million sq ft of mixed-use space – of which around 850,000 sq ft is grade A office – at Central Square

The scheme is a major employment location for the city, boosted by its close proximity to Cardiff Central Station, with its tenants who include HMRC, BBC Wales, Hugh James and Hodge Bank employing thousands of people

Lancashire group hails ‘commitment to strengthening the UK’s power infrastructure’

Utilities engineering specialist Ipsum Group has acquired a high-voltage specialist in the North East and a drainage and sewerage specialist in the Midlands as it continues its national expansion.

Chorley-based Ipsum has acquired Gateshead’s Rosh Engineering to expand its power engineering capability, and has also completed a deal for Warwickshire’s Wilkinson Environmental to grow its Midlands division and particularly its water division.

Rosh Engineering was founded in 1981 and specialises in power transformer and high-voltage services, working across the power, water, infrastructure and telecoms sectors.

Ipsum Group’s chief executive, Andrew Cowan, said: “I’m delighted to welcome the whole team at Rosh Engineering to Ipsum. Adding to our rapidly expanding business, they bring a depth of transformer and high voltage engineering expertise that is highly complementary alongside our existing capabilities. Their technical precision, strong safety culture and proven track record in complex operational environments align closely with our own standards.

“This acquisition further enhances our ability to provide our customers with specialist support across critical high voltage assets, reinforcing our commitment to strengthening the UK’s power infrastructure.”

Ian Dormer, managing director at Blaydon-based Rosh Engineering, added: “For more than four decades, Rosh has been built on technical excellence and a commitment to delivering specialist transformer services to the highest standard. Joining Ipsum provides a strong platform for sustainable growth, broader project opportunities and continued investment in our people and facilities. We are excited about the opportunities this creates for our team and our customers.”

Atherstone-based Wilkinson Environmental specialises in civil engineering, drainage and sewer work. Ipsum CEO Mr Cowan, said: “The strong technical expertise, operational capability and commitment to service excellence of the Wilkinson team make them a perfect fit for Ipsum. I am delighted to welcome them into the Ipsum family.

“They join our rapidly expanding business which will now have an even stronger presence in the Midlands, and an enhanced civil engineering and infrastructure service offering to customers in complex and regulated environments.”

Wilkinson Environmental owner and MD, Mike Moss, added: “We’ve worked closely with Ipsum in the past and it’s a huge complement to all of us here at Wilkinson to be held in such high esteem. I’m certain this move will be extremely beneficial for my colleagues in terms of job security, training and development opportunities and investment in resources locally.

“We go forward with confidence, and a commitment to continue to offer supply chain partners the quality and reliability of service we are renowned for. ”

Ipsum now employs more than 1,000 across the UK.

Efforts to develop domestic rare-earth resources are gaining momentum in Texas as policymakers and industry leaders push to reduce U.S. reliance on China for minerals critical to defense and advanced-technology supply chains.

Texas Land Commissioner Dawn Buckingham joined FOX Business’ Maria Bartiromo on “Mornings with Maria,” Monday to discuss how development of the Round Top rare-earth deposit could help strengthen U.S. national security while generating billions of dollars in revenue for Texas public schools.

Round Top, located in West Texas, is considered one of the richest known deposits of heavy rare-earth minerals in North America. These materials are essential for defense systems, semiconductors and advanced manufacturing. The project has drawn increasing attention as the U.S. looks to challenge China’s long-standing dominance of the global rare-earth supply chain.

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Worker holding a soil sample of rare-earth minerals. (Victor Moriyama/Bloomberg  / Getty Images)

Buckingham said the state’s mineral resources could play a key role in reshaping that balance while delivering economic benefits in Texas.

“There are 17 rare-earth minerals. We have 15… We’re heavy in the heavies. Those are the really important ones,” Buckingham said, “It’s going to be billions of dollars into public education… We’re breaking China’s stronghold on this market. We are making Texas safer.”

As exploration expands across the region, officials are also focusing on the infrastructure needed to process the minerals domestically.

“We have lots of rare-earth minerals all over the region. We are looking at those deposits right now,” Buckingham said, “It’s going to be billions of dollars to the schoolchildren of Texas, and it’s going to make the United States and the whole world safer.”

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Britain’s largest car park operator, National Car Parks (NCP), has taken the first formal step toward administration, putting more than 1,000 jobs at risk and raising fresh questions about the future of hundreds of parking facilities across the UK.

Documents lodged at the High Court in London show that the company has filed a notice of intention to appoint administrators. The filing, made at 10.01am, provides the business with temporary legal protection from creditor actions while it attempts to stabilise its financial position or explore restructuring options.

The move signals deep financial strain at a company that operates more than 800 parking sites nationwide, serving millions of drivers each year and working with a range of private landowners, councils and commercial clients.

An intention to appoint administrators is typically used by businesses facing mounting financial pressure, granting them a short window, usually around ten days, to negotiate with lenders, explore refinancing options or prepare for a formal administration process.

If the company ultimately enters administration, the outcome could threaten the future of more than 1,000 jobs across its operations and potentially disrupt services at hundreds of car parks across the country.

The development is likely to send shockwaves through local authorities and commercial partners that rely on the operator to manage public and private parking facilities.

Financial pressures have been mounting in recent years. Accounts show the company generated revenues of £187 million in the financial year ending 2023, representing a decline of more than 7 per cent compared with the previous year.

The company has also faced public scrutiny and criticism over its parking enforcement practices. Private parking operators across the UK have dramatically increased the number of penalty notices issued to motorists, with figures showing that drivers are now receiving nearly 40,000 parking charges a day.

Data from the Driver and Vehicle Licensing Agency (DVLA) revealed that private parking firms requested vehicle ownership details a record 14.37 million times during the 2024–25 financial year. That equates to an average of around 39,375 requests per day, allowing companies to issue parking charge notices of up to £100 for alleged violations such as overstaying time limits.

Parking operators must obtain vehicle ownership information from the DVLA in order to send fines by post, paying £2.50 per request for access to the database.

NCP itself has faced several high-profile controversies relating to fines in recent years. In February last year the company apologised after incorrectly issuing a £100 penalty to a grandfather who had parked for just 14 minutes in a car park in Darlington, County Durham, despite signage stating that customers were entitled to 90 minutes of free parking. The fine was later cancelled.

The company has also faced financial disputes with local authorities. In 2024, Bolton Council wrote off nearly £1.5 million in debts owed by the firm dating back to the pandemic period.

Legal representatives from the law firm Reynolds Porter Chamberlain, which is acting for the company, said a statement would be issued later regarding the situation.

Industry observers say the potential collapse of such a large operator reflects broader challenges in the parking sector, including rising operational costs, tighter regulation and increasing scrutiny of private parking enforcement.

For motorists, private parking charges have become increasingly common across locations such as supermarkets, shopping centres, business parks, motorway service areas and restaurant sites.

While the notice filed in court does not guarantee that the company will enter administration, it indicates that its financial position has become severe enough to require urgent restructuring discussions.

If a rescue deal cannot be secured during the protection period, administrators could be formally appointed within days, placing the future of Britain’s largest car park operator in doubt.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.