Cardiff HQ could become co-living scheme, but Principality says no move planned
Principality Building Society has responded to a planning application proposing a change of use at its city centre headquarters, Principality House.
The submission, which completed its consultation stage earlier this week, sets out plans to partially convert the building into co-living accommodation while retaining some commercial use. However, the society said it is not preparing to leave the site on The Friary.
A spokesperson said: “There are currently no active plans to relocate from Principality House. The planning application was submitted to provide long-term optionality and flexibility for the building, which is an iconic landmark in the heart of the city.”
They added: “Principality House has been our home for more than 30 years, with colleagues making more use of the building in recent months, following the appointment of our new CEO, Iain Mansfield. Should we make a decision to move our head office in the future, turning our office into sustainable homes could not be more fitting for Wales’ largest building society.”
The application, lodged by Urban Centric Development Management Ltd, describes the scheme as a “co-living complex,” a model it says reflects changing living habits. Co-living typically offers smaller private studios alongside shared amenities such as a gym, cinema, games room and dining spaces.
If approved, the development would provide 244 co-living studios with associated amenity space. According to the applicant, such schemes usually operate on a flexible “all-in rate” covering utilities, council tax and access to communal facilities.
Principality House is an 11-storey building, including two basement levels, and is known for its distinctive architecture, which the application says is “often compared to a cruise liner.” Located on The Friary in central Cardiff, it has served as the building society’s main headquarters for more than three decades.
