City Region Deal will allow Swansea to reflect its ambition and react to demand it has attracted

Deal will enhance the profile of an area that has great history and potential

20 March 2017

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The recently signed £1.3bn Swansea Bay City Region deal is expected to create up to 10,000 jobs over the next 15 years. These will be supported by 11 major projects across the region which will be implemented through a partnership between the UK Government, the Welsh Government and the region’s local authorities comprising Swansea, Neath Port Talbot, Carmarthenshire and Pembrokeshire local authorities. Cooke & Arkwright is advising University of Wales Trinity Saint David (UWTSD) on its SA1 and Townhill Campus sites in the city, and is retained Managing Agent at Oyster Wharf in Mumbles.

Ben Bolton, Director of Business Space commented, “This announcement confirms a strong platform for Swansea to deliver. The investment provides the region with a series of developments to reflect its ambition and react to the demand it has attracted from across all sectors. UWTSD has ambitious plans to develop the SA1 Swansea Waterfront site and its Townhill Campus site offers superb development potential, which our Development Land department is marketing. With the signing of the City Deal, these are exciting times for Swansea and the whole region.”

Andrew Gardner, Managing Director of Cooke & Arkwright, said, “This will be a major compliment to the projects already committed to, and will enhance the profile of an area that has great history and potential.”

The deal will see projects brought to life across south west Wales in the fields of energy, smart manufacturing, innovation and life science, and will include the Swansea City and Waterfront digital district featuring 100,000 sq ft of offices, a box village development with the University of Wales Trinity Saint David and an indoor arena with seating for up to 6,000. There are also plans for the construction of a marine energy centre in the Port of Milford Haven, an innovation hub and a steel science centre in Neath Port Talbot and a life sciences lab with clinic space and an incubation start-up facility in Llanelli.

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group