Plans for New Swansea City Centre Apartment Scheme
The company behind the £25m Urban Village on Swansea High Street is planning to develop 25 affordable apartments in the city’s centre in a link-up with the local authority and a property investor. Coastal Housing, working alongside Swansea Council and West Register (Property Investments) represented by Lambert Smith Hampton (LSH), have jointly agreed a deal that will see the Potter’s Wheel Pub building on the Kingsway completely transformed. Planning has been submitted to refurbish and extend the Kingsway property to create affordable one and two-bedroom apartments for rental.
National pub chain JD Wetherspoon runs the Potters Wheel on the ground floor of the three-storey building which fronts onto the roundabout on the corner of Dillwyn Street and St Helen’s Road. The property will be renovated inside and out, turning two floors (about 14,000 sq ft) of dilapidated office space into residential accommodation. A fourth storey will also be added to the building. Besides the £25m Urban Village on Swansea High Street Coastal is also behind the £8m Castle Quarter development.
LSH regional director Lee Mogridge, who acts as asset manager on behalf of West Register, said: “West Register is a significant commercial property landlord in Swansea with a strong foothold in the city while the council is the largest owner of freehold interests. Together the two have completed a complicated yet effective arrangement that, with Coastal on board, should breathe new life into the city centre and pave the way for further successful public-private partnership initiatives.”
Gerraint Oakley, Director of Development at Coastal Housing, said: “We are delighted to have completed this deal with LSH and the City and County of Swansea and look forward to submitting a planning application to provide affordable housing in a vibrant and sustainable location.”