Swansea seeks development partner for £1bn regen
Swansea Council has formally launched its search for a development partner for its £1bn project to transform the city.
The procurement process is expected to conclude with the selection of a partner in summer 2021.
Through the Shaping Swansea project, council-owned development sites in and around the city centre will be delivered in the short, medium and long term.
Swansea Council has formally launched its search for a development partner for its £1bn project to transform the city.
The procurement process is expected to conclude with the selection of a partner in summer 2021.
Through the Shaping Swansea project, council-owned development sites in and around the city centre will be delivered in the short, medium and long term.
These include seven initial sites spanning a combined 60 acres, ranging from compact sites in the city centre to gateway locations. The schemes will deliver a mix of uses, including residential and employment.
Paul Ellis, partner at Cushman & Wakefield, which is advising the council on the procurement process, said: “The selected strategic partner will be introduced into a development strategy already well advanced and delivering material results.
“Covid-19 is clearly revising those key ingredients that make a place a successful one to invest in, and Swansea has the right credentials, and associated public sector support, that means it is now receiving strong interest from the marketplace.”
Swansea Council leader Rob Stewart said: “Investors around the world are looking for new opportunities – and Swansea can provide them.
“We’re looking forward with optimism and energy towards a post-pandemic world when Swansea will lead the way in offering and delivering on opportunity.
“As we build on the great regeneration work already under way here there will be many more new openings for existing and new business to thrive.”
The council devised its development strategy in 2015. Its projects include a circa £130m scheme featuring a 3,500-capacity arena, a hotel, restaurants, new homes, two car parks and an elevated coastal park.
The development is on site and due to complete in 2021. ATG is contracted as the end operator of the arena.
The council is also delivering a 107,600 sq ft flexible workspace scheme, with works expected to start on site by the end of the year.
Tune in tomorrow on Radius for a podcast featuring the leader and chief executive of Swansea City Council on their ambitions for the city and what they are looking for in a delivery partner.
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Photo by Numero007 / CC BY-SA
