Partner needed for £1bn plans to make 21st-century city
SWANSEA council chiefs want a partner to help deliver a new wave of investment across the city.
Labour leaders would like to see a £1bn redevelopment of seven sites – on top of existing projects under way – to make Swansea more of a 21stcentury city.
Council leader Rob Stewart and chief executive Phil Roberts outlined their ideas to investors and developers at the National Waterfront Museum.
“We will do all we can to make it easy for whoever wants to work with us,” said Councillor Stewart.
The sites in question are:
■ The Civic Centre, to become a residential-led, mixed-use development;
■ Swansea Central North, which is roughly from St Mary’s Church down to Oystermouth Road, to become a public-sector hub, plus retail, commercial and leisure space, and housing;
■ Land off East Burrows Road by the Sail Bridge, to become highquality housing with other potential uses;
■ A residential scheme at the former St Thomas railway station, by the Tawe;
■ Marina site behind the former observatory, to be developed for residential and commercial uses;
■ An employment-led scheme at the Oxford Street car park opposite the Grand Theatre; and
■ Hafod Copperworks to become a significant leisure destination, building on proposals for a new Penderyn whisky distillery and gondola ride heading up Kilvey Hill. Some housing is also an option.
Councillor Stewart said the authority was looking for a “strategic partner” for all seven sites, and also partners for individual sites.
He said the plan was to formally seek submissions of interest later this year, prior to selecting a preferred development partner in December.
The council is funding a large chunk of the £135 million Swansea Central phase one scheme, which includes the indoor arena, coastal park, commercial units, flats and new pedestrian bridge across Oystermouth Road.
It is also leading on a new office development on The Kingsway, with Swansea Bay City Deal support. This development at the former Oceana site, and the arena, are expected to be completed by the end of 2021.
Asked if he would consider borrowing more to help deliver the seven sites, Councillor Stewart said: “I have got no aversion to borrowing more if the business case is right. Where we can deliver something the taxpayer owns, and we can make money from it, why would we not?”
But the focus is very much on the private sector to step in, given the council’s current regeneration commitments.
Councillor Stewart was due to promote the new Shaping Swansea proposition to an investor conference in the South of France next week, but it has been postponed due to coronavirus concerns.
Delving back into the past, chief executive Mr Roberts said the rebuilding of Swansea city centre after wartime bombing typified “the art of compromise”.
He said the rebuilt city centre fitted its time, but the consequences of moving residents to outlying areas and moving businesses to enterprise zones and residential streets were negatively affecting its fortunes.
“Footfall is the key dynamic which is letting the city down,” said Mr Roberts. “Many cities have changed, and become different – we haven’t.”
He said the aim was for Swansea to become more of a 24-hour city, which attracted visitors and tech companies, was a pleasant place to live, and celebrated its culture.
After the presentations, attendees took a bird’s-eye tour of each site through virtual-reality goggles.
Asked what made a proposition like Shaping Swansea viable and attractive, Hugh Robinson, of Morgan Sindall Investments Ltd, said: “You need to be convinced the council has a clear vision and multiple levels of support, and I think that was extremely evident.
“Then there is the track record of recent delivery. And then you need to be convinced the business opportunity is there.”
A developer, who asked not to be named, said: “You want to keep your powder dry until you see what the detail is. It is all very impressive. What is not clear is what they anticipate a developer will get out of it.
“That will all come out in the competitive dialogue process.”