St Modwen Signs Deal to Start Building £450m Swansea Uni Campus
St Modwen Properties has signed a development agreement to build the first phase of Swansea University’s new £450m Science & Innovation Campus. The campus will be built on St Modwen’s 65 acre Transit site, one of the holdings within a 2,500 acre portfolio acquired from BP in 2009, and which has been fully remediated. About 4,000 direct jobs will be created during the construction phase, St Modwen said.
The first phase of this scheme, which received detailed planning permission in December 2012 from Neath Port Talbot County Borough Council, will comprise 700,000 sq ft of development including 430,000 sq ft of academic space, 899 student apartments and associated retail space. This will deliver research, innovation and education facilities for Swansea. Preparatory works have already started on site.
St Modwen Chief Executive Bill Oliver said: "The new campus will serve as a fantastic catalyst for change in this part of South Wales and provide a huge boost to the local and national Welsh economies. Coupled with our on-going regeneration of Coed Darcy, Baglan Bay and Glan Llyn at Newport, this project plays a major part in the transformational change that we are delivering in South Wales.”
Over a ten year period the full development will bring an estimated economic impact in excess of £3bn to the area. Approximately 4,000 direct jobs will be supported, with the wider economic total of approaching 10,000 direct and indirect jobs, from the construction activity alone. It is anticipated that the construction process will induce over £430m of economic activity, with £390m of this activity being within Wales.http://youtu.be/0hbgPwhrrF8