Cardiff Sixth Form College has committed to its current location after agreeing a new 10-year lease.
Located at Trinity Court, in the centre of Cardiff, it has struck the tenancy deal with landlord and property investment fund Squarestone Growth LLP.
The new lease ensures the building, which extends to just over 38,000 sq ft, remains fully let with the college as the only tenant.
Squarestone Asset Management acquired the three office complex in January 2017 for £4.4m on behalf of Squarestone Growth LLP, a UK £250m regional office fund.
The offices had previously been let to Cardiff Sixth Form College, which has a strong record of seeing students taking up places at Oxford and Cambridge universities, on three separate leases of varying length. Shortly after acquisition the college was taken over by Dukes Education.
Squarestone is investing to connect all three former office blocks and create a new entrance for the college.
Squarestone founding partner Paul Coulter said: “When we first saw this office complex we were attracted by the immediate asset management opportunities of working with the college to restructure the asset to best suit their needs.
"We were also interested in the longer term future development potential of the site for other uses, due to the relatively low rise nature of the assets, especially when compared to neighbouring properties.
"We are delighted to have worked with Dukes Education to fulfil our medium term asset management strategy of restructuring a lease that works for our tenant whilst improving the asset for their needs today."
