Council agrees to spend £3.3m on lease for seafront car park
A PLAN that will enable the next round of major regeneration to take place in Porthcawl has been approved by Bridgend County Borough Council.
Members have agreed to use £3.3m capital funding to buy the leasehold on an area of land near the seafront in order to remove conflicting interests, break a development impasse that could last for another 16 years, and enable new regeneration work to benefit the town.
Known locally as Salt Lake, the land has formed a crucial part of the council’s phase one regeneration plans for a number of years, and was previously marked for a superstore as well as leisure, retail, housing and community use.
When the previous plan broke down after a national shift in the expansion strategies of major supermarket chains, the land was left in a development deadlock and has remained subject to the terms of an owner’s agreement as well as longstanding leases which will be in place until 2033.
The decision to purchase the leasehold has been taken following two independent valuations of the land as well as consultation with the Wales Audit Office, and the authority will seek to recover the £3.3m cost as part of any subsequent development deal.
Council leader Huw David said: “This is fantastic news and a significant investment into the future of Porthcawl.
“As well as breaking the deadlock over the Salt Lake land, it will ensure that the council can provide a regeneration scheme that will benefit the town and complement other projects such as the Jennings Building, new marina, new town beach, community-driven harbourside centre and more.
“We will seek to recover the costs of purchasing the leasehold interest through any subsequent development of the site, which is likely to feature a mix of leisure, retail and housing.
“This is the first step towards transforming Salt Lake into something en- tirely new, and I am looking forward to seeing proposals for what shape the site will ultimately take.”
Councillor Charles Smith, cabinet member for education and regeneration, added: “This is one of the biggest regeneration opportunities that the county borough has ever experienced.
“Salt Lake is currently the largest waterfront development site in the country, and we want to maximise the opportunities that it represents for the benefit of residents and visitors alike.
“Interest from developers is likely to be high and we will seek to recover the costs of purchasing the leasehold interest through any subsequent development of the site.
“The very earliest that any work could start would be sometime in 2019, but this is of course dependent on the council being fully satisfied that any project is going to be of maximum benefit for the community.
“Significant new infrastructure such as coastal defences, highway improvements, new roads and utilities will all need to be introduced, and we will also have to ensure that there is adequate public car-parking to suit the town’s needs as a visitor destination.
“This is an incredible opportunity, and marks a very exciting new chapter in the history of Porthcawl.”