Simon Baston is the mind behind many recent regeneration projects in south Wales, from Cardiff’s Tramshed to the Pump House in Barry. He pumps it up for Buzz in conversation.
So what is it that you and Loftco do?
Loftco specialise in the conversion of existing (often listed and very complex) buildings into 24/7 sustainable solutions.
What is the primary decision behind what buildings or projects you take on?
We only want to look at buildings and schemes that provide socio-economic solutions for the 21st century.
How did you end up in this business?
I studied construction management at university and when leaving in 1992 during the recession, I decided I may as well start my business. Because if you can build a business in a huge downturn, hopefully there’s a long-term future.
Some plans, such as the discussion about the flats next to the Tramshed site, have generated controversy. What are your thoughts when something that Loftco does receives negativity?
The negativity surrounding the rear of the Tramshed was puzzling. The scheme offers grade-A office space and a 16-room serviced apartment hotel (not straightforward apartments), both of which Cardiff needs now. The Tramshed venue team were fully aware of this four years ago and signed a lease at that time knowing what was necessary and needed to ensure the viability of the scheme.
What does Loftco do that other property developers don’t?
Loftco wants to help create communities for everyone that offers a sustainable location with a low carbon footprint, flexible leases and an innovative ecosystem – e.g. Newport market and the Goods Shed in Barry. We are proud that our schemes are offered to all and an opportunity for everyone in the community to get involved.
Property developers aren’t exactly popular with many people, as a whole. What do you think contributes to this image?
It’s difficult to say why developers get a bad rap. There are many different types of developers working on many projects with huge technical issues, and working within very tight labour markets, with great cost uncertainty and they still deliver great schemes. It’s so easy in these days of social media overkill to whip up an unjustified storm.
What projects are you most proud of?
We are genuinely proud of all of our developments and hope they contribute to the regeneration of the areas we work in at all levels. We hope to continue building innovative schemes in collaboration with local authorities and the Welsh government that offer a truly sustainable way forward.
Where is the balance between a sustainable business, and redeveloping building for sustainable long-term futures?
The great challenge now, in terms of regeneration of existing buildings, is an acute skill shortage in this specialised area and exponential growth in all costs. However, if you start these projects in collaboration with all the relevant stakeholders and bring them on board from day one, I think there’s a greater chance of success. We see the future moving towards mass urbanisation around central transport hubs and creating a true live/work/play situation that’s innovative and organically growing as the real challenge! All data also points to a move back to shopping and spending leisure time in independents which is great for Wales with our SME business structure.
What’s next for Wales?
I think Wales is in line for a golden era. We have the beaches, mountains, space and good links that can capitalise on Brexit and the fall of the pound. People see Wales as a completely different proposition now and at all levels they will want to move here and visit us more. One place that has huge opportunities to grow are the northern Valleys with good infrastructure, large employment base that are increasingly more entrepreneurial and a brilliant leisure offering.
Info: www.loftco.net