3&4 Callaghan Square in Cardiff, Wales

A long-term partnership across nine years 
We were appointed by DWS through the entire lifecycle of two major office buildings in Cardiff, beginning with Technical Due Diligence for the acquisition in 2016 and culminating in their successful disposal in 2025. Over this nine-year period, Hollis delivered a wide range of services, all under one roof, demonstrating the value of a fully integrated consultancy approach.

Strategic support from acquisition to exit 
Our involvement began with technical due diligence during the acquisition phase. From there, we provided ongoing consultancy throughout the client’s ownership, including:

• Dilapidations and lease strategy: Settled a dilapidations claim on Building 4 to enable a short-term lease renewal. We then managed a complex strip-out project across three floors to support a rates mitigation strategy, working closely with the client’s ratings surveyor while maintaining tenant occupation on two floors.
• ESG and sustainability: Delivered EPCs and improvement reports, advised on MEES compliance and strategy, and prepared ESG due diligence reports for the vendor packs.
• Technical and operational services: Provided MEP engineering, vertical transportation consultancy, planned maintenance reviews, health and safety audits, measured surveys, and drone data capture.
• Tenant alterations: Provided technical advice in respect of tenant alterations and fit outs.   
• Planned Maintenance: Prepared a PPM for building 3. This allowed the client to get an understanding of the maintenance requirements over a 10-year period and set service charge budgets.  
   

A seamless disposal process 
In early 2025, we prepared comprehensive vendor TDD packs to support the sale of both buildings. The properties were successfully sold in October, marking the end of a strategic and collaborative journey.

Challenges and opportunities  
One of the most significant challenges was managing the strip-out of three floors in Building 4 while a tenant remained in occupation on two other floors. This required careful planning to maintain health and safety standards and minimise disruption. Shared M&E services added complexity, demanding precise coordination to avoid service interruptions.

The strip-out formed part of a rates mitigation strategy, which meant close collaboration with the client’s rating surveyor was essential. We worked proactively to ensure the scope and execution of the works met the client’s objectives for reducing rates liability on the vacated floors, while maintaining compliance and operational continuity for the occupied areas.

A showcase of multidisciplinary, in-house expertise 
This project exemplifies how Hollis can support clients across every stage of the property lifecycle. From acquisition to disposal, all services were delivered in-house, ensuring consistency, efficiency, and strategic alignment throughout.