Swansea Council seeks development partner for £750m regeneration project

WCN Editorial Team 12 Apr 2019 EUROPE BUILDINGS

Swansea Council is seeking a long-term strategic development partner for its proposed £750m regeneration project in Swansea.

The regeneration partner would work alongside the council to develop several sites, including Swansea Central Phase Two, the Civic Centre site, the Sailbridge site (near Sainsbury's and the Dylan Thomas Centre), and a large area of the former Hafod-Morfa Copperworks site.

The Swansea Central Phase Two involves the regeneration of the city centre area between St Mary’s and St David’s churches as well as parts of the Copperworks site, which are already reserved for development by Penderyn Whisky and Skyline New Zealand.

It also involves the transformation of sites of the former Oxford Street School and St Thomas Station, an area bordered by the River Tawe and the lower part of the A4217.

Council leader Rob Stewart said: "We are transforming Swansea city centre and we want to continue the regeneration with a great businesses partner on board.

"Investors around the world are excited by the regeneration already underway here, including the £120m Swansea Central Phase One with its Digital Arena, the £12m Kingsway improvements, the Penderyn scheme and the 10,000 sq m Digital Village for tech businesses.

"Swansea Council is a substantial land owner and we want to deliver regeneration through a number of significant and strategic sites over the short, medium and long term - and to identify further opportunities from our land holdings.

“We want to explore all options of innovative property delivery models that will deliver maximum benefits to the people and economy of Swansea.”

For the projects, the new development partner will provide risk capital while the council would seek public sector grant funding if required.

Stewart added: "The project is envisaged to become a focus for the wider economic benefit to the City Region.

"This will result from the economic benefits stemming from construction and operation of the facilities and job creation, as well as the capabilities developed through the wider supply-chain initiatives and further regional sector activity."

The existing council regeneration is supported by funding from the £1.3bn Swansea Bay City Deal and from the Welsh Government.

Image: Illustration of Swansea Central Phase Two project. Photo: courtesy of Swansea Council.

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