The Pierhead Building is a Grade 1 listed building of the National Assembly for Wales in Cardiff Bay, Wales. It stands as one of the city of Cardiff's most familiar landmarks and was built in 1897 as the headquarters for the Bute Dock Company. Cardiff Bay is the area created by the Cardiff Barrage in South Cardiff, the capital of Wales. The regeneration of Cardiff Bay is now widely regarded as one of the most successful regeneration projects in the United Kingdom. The Bay is supplied by two rivers (Taff and Ely) to form a 500-acre (2.0 km2) freshwater lake round the former dockland area south of the city centre. The Bay was formerly tidal, with access to the sea limited to a couple of hours each side of high water but now provides 24-hour access through three locks.