Developers appointed for £1 billion Swansea city centre regeneration
Two of Europe's leading developers have been appointed to transform Swansea city centre in a £1 billion scheme.
A joint venture between Hammerson plc and Urban Splash has been chosen by Swansea Council and its partner, the Welsh Assembly Government (WAG), to lead the regeneration of the city's major retail and waterfront sites.
Hammerson is one of Europe's leading property companies specialising in urban regeneration with operations in the UK and France. Urban Splash is an innovative regeneration company with a track record in high quality architecture, urban design and regeneration.
The proposed scheme includes 600,000sq ft of additional retail space, 1,000 residential units and new leisure, office, hotel and conference facilities on the existing St David's and Quadrant sites and car parks at Paxton Street and County Hall.
Chris Holley, Leader of Swansea Council, said, "The appointment of Hammerson and Urban Splash is a massive statement of intent by Swansea.
"Hammerson is one of the leading property developers in Europe with an outstanding track record and the financial standing to deliver our ambitions for the city centre and waterfront.
"Equally, Urban Splash is one of the most innovative city centre residential developers with a proven track record in Manchester, Leeds and Liverpool which have all seen major regeneration and investment during recent years.
"They have the calibre, capabilities and track record to transform Swansea by breathing new life into our retail centre and creating exciting locations along the waterfront.
"This is probably the most significant announcement during the past 50 years for Swansea and it follows major private investment in the city centre, including the £30 million retail development at the former House of Fraser store on Princess Way due for completion in the autumn 2008."
Given the scale and significance of this investment, Swansea Council, WAG and the developers will be working together during the next 12-18 months to secure planning consent for the regeneration scheme.
Leighton Andrews, the Assembly's Deputy Minister for Regeneration, said the appointment marked the start of a new and exciting era for Swansea city centre.
"This is an excellent way to start the New Year and great news for Swansea. I am delighted that we have been able to attract two of Europe's leading developers who have some very exciting and innovative proposals designed to transform and revitalise key areas of Swansea.
"We were looking for imaginative proposals, incorporating high quality architecture and public realm design, together with a commitment to sustainability and are confident this will be delivered by the partnership between Hammerson and Urban Splash."
Both companies have a reputation for delivering landmark schemes that provide attractive and sustainable environments for people to live, work, shop, learn and spend their leisure time. They invest in towns and cities for the long term and work hard to ensure that schemes remain sustainable and an integral part of the city. They have recently collaborated on regenerating Birmingham city centre at its Bullring retail-led mixed use development.
John Richards, Chief Executive of Hammerson, said, "This appointment reflects Hammerson's proven track record of large-scale, mixed-use urban regeneration. We look forward to working with the Council and with our partner, Urban Splash, to bring forward the development of this important site and create a city centre environment of which the people of Swansea can be justifiably proud."
Jason Collard, Managing Director, Urban Splash South West, said, "Urban Splash is delighted to be working once more with Hammerson, following our successful collaboration on Bullring in Birmingham City Centre. This will be our first development in Wales and we are proud to be invited to play a key role in this important initiative for Swansea."
The appointment follows a nine-month European-wide competition which attracted leading developers to bid to deliver the vibrant mixed-use heart theme of the Swansea City Centre Strategic Framework - a master plan for regenerating the city centre.
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