The foundations were built on the ruins of a 12th-century friary, much of which had still stood until 1955. These were completely cleared for the tower to be constructed, although it is probable that under modern planning laws this would not have been allowed.Шаблон:Citation needed
Construction was started in 1967 and completed on schedule at a cost of £1.5 million, with the building being officially opened on 7 April 1970 by Lord Lieutenant of Glamorgan, Sir Cennydd Traherne.[3] It was originally known as Pearl Assurance House, after the Pearl Assurance company.
For a long period it was the tallest building in Wales,[4] until it was overtaken by Swansea's The Tower, Meridian Quay completed in 2009.
The building provides Шаблон:Convert of floor space,[5] Originally, a job centre, bookshop and galleries were built on the lower floors, but in 1998 they were replaced by a new set of developments including cafe-bars, and the multi-storey car parks were re-clad. At this time the building received its current name, Capital Tower.[6]
On 25 November 2002, the tower was sold for £17.4 million by Aberdeen Property Investors to the Raven Group. In August 2012, DTZ secured the £12.35 million sale of Capital Tower and Friary House to the Topland Group.[6]
In 2018 the building was for sale at an asking price of £23.4 million.[7]
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