Cooke & Arkwright
News
ABP signals a job well done at Waterfront Barry
23/10/07
The property market received a massive boost this week as Associated British Ports (ABP) and the Welsh Assembly Government agreed the sale of the final 41-hectare (100 acres) of prime development land at the flagship Waterfront Barry regeneration scheme in South Wales. The remaining site is set to be developed by a consortium of leading housebuilders comprising Taylor Wimpey, Persimmon Homes and Barratt Homes. The £350 million development will set new standards for sustainable construction in Wales - with the new homes and the commercial development designed to the highest environmental standards.
Their proposals, which will be subject to planning consent, include building 2,000 new homes – including 400 affordable homes - and developing 300,000 sq ft for commercial and leisure uses. These could include a hotel, restaurants, café bars, some retail outlets and possibly a cinema.
The deal means that ABP’s work towards the regeneration of the site is now complete, although its long association with Barry through its flourishing port operations will continue.
This latest development on Waterfront Barry – one of the UK’s largest and most successful redevelopment schemes – is set to become an exemplary model of environmental best practice.
ABP and the Welsh Assembly Government have worked together since 1991 through the Barry Joint Initiative to transform the site surrounding the port’s Number One Dock into a thriving and stylish waterfront community. With major investment for new housing, retail, leisure and community facilities, the scheme is already regarded as a prime example of the type of private/public partnership that is one of the keys to sustainable development.
To complement the existing regeneration, this latest development will be designed to the most rigorous environmental standards. ABP, as landowner and its Joint Initiative Partner, the Welsh Assembly Government, will maintain their involvement during the ‘master planning’ stage and are proud that this third and final phase in the regeneration of Waterfront Barry will raise the development bar even higher for sustainable construction in Wales.
Phil Williams, ABP Group Property Director, said the agreement with the consortium marked the end of an era for the ABP team. “Waterfront Barry is, and will continue to be, a real success story. We are incredibly proud of ABP’s instrumental role in the project and delighted that such a prestigious consortium will draw the development to a worthy close. It’s easy to forget, sixteen years on, what a huge difference the Waterfront Barry scheme has made. We consider it a job well done.
“We’re also pleased that ABP has an ongoing link through the master planning stage and, of course, that we will still have such a strong link with Barry through our day-to-day successful port operations,” he added.
The joint marketing agents for the site are Cooke & Arkwright and Atisreal. Michael Lawley, Managing Director at Cooke & Arkwright, said: “The residential market continues to remain resilient despite the recent banking crisis and the prospect of further interest rises. That makes the Waterfront Barry deal all the more impressive and we are delighted that the site has attracted such a prestigious consortium of housebuilders. The area has been transformed and this latest investment will offer further opportunity to position the waterfront as a high-profile location with considerable future potential.”
Ieuan Wyn Jones, Welsh Assembly Minister for the Economy and Transport, said the proposals supported the Assembly Government’s green strategy to promote sustainable development and its drive to achieve higher environmental standards on new developments.
“It is excellent news to see some of the UK’s leading housebuilders taking a key role and helping to set the highest environmental standards for this development. Waterfront Barry plays a vital role in the ongoing regeneration of South Wales and these proposals will provide a significant boost for the area and create new jobs through the commercial and leisure developments.”
The masterplan for this new quarter - which will effectively link Barry Island with the town - will be based on best-design practice incorporated in the new Manual for Streets – a publication designed to encourage high environmental standards in residential developments.