The joint venture will enable the development of the remaining 15 acres for residential and commercial use with the possibility of incorporating existing tenanted commercial properties within the waterfront area. There may also be the potential to access funding via the recently announced £1.3 billion Swansea City Deal.
The aim is to form a jointly owned development vehicle to deliver the UWTSD’s vision of a vibrant mixed-use neighbourhood, which blends the University’s academic buildings with a wide range of commercial, residential, retail and leisure activities.
Ray Selby, SA1 Development Director at UWTSD, said: “This is an exciting opportunity for the right partner or partners to work with us to unlock the potential of our SA1 Swansea Waterfront site, which is expected to generate profitable returns. It comes at a time when Swansea is on the national agenda following the City Deal which has the potential to transform the whole region and put it on the world stage.
“Such a venture will be an exciting opportunity for the partner or partners to make their mark in Swansea at such an exciting time for the city, whilst maximising UWTSD’s commitment and contribution to sustainable economic regeneration in the area.”
UWTSD is working with leading commercial agents, Cooke & Arkwright, to market the joint venture. Expressions of interest are currently being sought via Sell2Wales where the notice is listed under SA1 Swansea Waterfront. Interested parties are also being invited to attend a presentation in London in late April – for further information please e-mail Ben Bolton at email@example.com.
Ben Bolton at Cooke & Arkwright, said: “UWTSD has ambitious plans to develop the SA1 Swansea Waterfront site and is proactively leading the way by seeking partners for a unique joint venture to forge ahead with those plans.
“We have a strong track record of working on some of Wales’ most high profile development and regeneration opportunities, and we are delighted to be working with UWTSD to help them achieve their vision for this important site.”
Following expressions of interest, a tender process is expected to be launched in June with the aim of appointing the preferred partner or partners by late summer 2017.