City centre regeneration programmes are some of the largest drivers of growth for developers at present, with many snapping up lucrative contracts with local authorities to deliver multi million pound schemes.
In Swansea, the race to partner the city’s council for the transformation of the Welsh destination’s retail core has reached a new high with the news that numerous exclusive London retailers are considering a move to the new space.
At present, Swansea Council is in the midst of examining designs and technical drawings submitted by a number of shortlisted regeneration specialists regarding the transformation of the city’s Civic Centre and St David’s sites.
The council will soon hold further discussions with its preferred candidates before the submission of final bids in September, after which it will reveal the identities of one or more new development partners by the end of the year.
Council leader Councillor Rob Stewart this week confirmed that members of the public will play a pivotal role in determining the future of Swansea city centre.
He said; “We’re making considerable progress and are still on track to appoint one or more development partners by the end of November whose ideas we feel best meet our aspirations and build on Swansea’s unique character.
“Next year, once the developer appointment process is complete, we’ll be in a position to start sharing plans with the public and will allow plenty of opportunities for feedback.
“A thriving Swansea city centre isn’t just important for Swansea – it has a key role to play at the heart of the Swansea Bay City Region economy, too.”
So far, several big names including Queensberry Real Estate, Trebor Developments, Rightacre/Exemplar and Rivington Land and Acme have all submitted bids for the sites, along with a consortium headed by Bellerophon which includes M&G (Prudential), SSE & Apollo and Dawnus Construction.
At present, it is thought that the preferred plans incorporate retail, leisure and office space at the mixed use St David’s site while the Civic Centre will be used for landmark tourism developments and public spaces.
Swansea Council has yet to reveal the identities of the big name retailers looking to cross the Welsh border from London, although Councillor Stewart has confirmed that one or more currently operate commercial property outlets in the capital city alone. Obviously, the expansion of these retailers to Swansea would prove to be a huge draw for consumers, meaning the city could expect to benefit from a huge boost to the local economy following the regeneration projects.
Councillor Stewart concluded; “It’s not just the schemes being proposed that are impressive and exciting.
“Some of the retailers and well-known brands that could potentially be moving to Swansea city centre under the proposals being put forward aren’t anywhere outside London at the moment.
“This is particularly encouraging because it could strengthen Swansea’s reputation for uniqueness and help our city centre stand out from the crowd.”
Do you think these retailers are likely to make good on their expressions of interest, or are they more likely to move into the nearby Cardiff market?
