Developers of the £60m Bayscape scheme in Cardiff Bay are confident they have the funds to start on the 32-storey scheme.

Ardmore has been lined-up on a fixed-price contract after impressing the developers with its track record with hotels and high-rise buildings.

Chris Odling-Smee, the Switzerland-based businessman developing Bayscape, told the South Wales Echo: “It’s actually looking in pretty good shape, despite the market and the economy.”

He added that “additional top up finance” had been secured and construction should start in August or September.

Odling-Smee said: “It’s a large scheme, which is why we have been taking this quite carefully.

“We have taken our time so that when we do fire the starter’s gun we can deliver on every aspect of it.”

The scheme is six months behind the original schedule.

Chris Langdon Development Director at Ardmore said: “We are genuinely delighted to be partnering in the delivery of this impressive project, which builds upon our strengths in the leisure and residential sector.

“We are able to bring construction certainty and confidence to the team to help deliver the opportunities created by Bayscape and Cardiff Council.”