Multi-million pound jobs boost for SA1
A £9.2 MILLION investment has been secured for SA1 Swansea Waterfront which will, it is claimed, create 120 news jobs.
There would also be a significant number of jobs during the construction phase, it was announced today.
An artist's impression of the new SA1 development.
Waterstone Estates (Swansea) has acquired a half acre waterfront site from the Assembly Government and has secured Tesco and Whitbread as tenants for a new mixed-use commercial development in the heart of SA1.
The proposed development will comprise approximately 63,000sqft of new high-quality commercial space to include a 132-bed hotel for Whitbread Group, together with a restaurant with views overlooking the Prince of Wales Dock.
A 4,500sqft unit has been pre-let to Tesco Stores for its Tesco Express store format.
The news has been welcomed by Ieuan Wyn Jones, Minister for the Economy and Transport, who said the investment was all the more significant given the current economic climate.
"It does send out a strong vote of confidence and a signal that Wales is a place to do business. It also illustrates that high-quality projects like SA1 continue to be an attractive proposition for developers and attracts high-quality investment.
"These new facilities on SA1 will benefit local residents and businesses and create jobs during the construction phase as well as the operational phase."
The investment will be of direct benefit to the wider South Wales economy, as the development was designed by CW Architects of Cardiff, the contract to build the scheme will be carried out by Bridgend-based building contractor Jehu Project Services, while South Wales-based consultants have been employed throughout the course of the design stage.
The scheme is being funded by Allied Irish Bank in Cardiff.
The new development will be on a prime site bordering Langdon Road and overlooking the 12 hectare Prince of Wales Dock, which is the focal point of SA1 and is to be developed into a marina.
Simon Jehu, of Waterstone Estates, said: "Our vision is to create a vibrant retail and leisure scheme that will integrate into the existing waterside development."
Matt Bryant, of Actoris, speaking for the developer, said: "We are proud to have worked with the Assembly Government to help create the next phase in this exciting redevelopment of the area.
"Our vision is to transform the disused industrial site and create a vibrant retail and leisure scheme that will integrate into the existing waterside development"