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Wales


Availability of Modern City Centre Offices in Swansea at a Critically Low Level


Completion of the urban park works on The Kingsway and the commencement of enabling works for the new Digital Arena are a major step forward in the plans to regenerate Swansea City centre, leading to the creation of a better environment and improved accessibility.


However, the supply of modern office space in the city centre is the most important strand of the strategy for the improved health of the city. Our market experience leads us to believe that there is a significant shortage of appropriate modern space which is at a critically low level, affecting the City’s economic health.


Provision of this space will lead to the introduction of new jobs and footfall into the City providing much needed support for our shopping core which, along with other towns and cities throughout the UK, are under continued pressure from the internet shopping provision. This space is urgently required to fulfil a need from both inward migrating companies, who demand large footplate sizes, and also for smaller sized suites which are demanded by our local companies and which will allow our economy to be grown from ’the bottom up’.


Our client, Hacer Developments, are addressing the problem by way of developing their proposals for a mixed use scheme in the City which will incorporate up to 42,000 sq ft of high quality office space, incorporating biophilic design concepts, with an opportunity


to offset carbon with support from the Welsh Government Innovative Housing Programme. We are sure that this space will be well received in the marketplace, particularly by those larger companies looking to inwardly locate to the City or relocate within it.


At the smaller end of the market, our client, Coastal Housing Association’s scheme at Urban Village in High Street is now virtually fully let, which has significantly reduced the availability of modern space attractive to smaller indigenous companies.


Swansea Council have recently submitted a planning application with detailed proposals for a new speculative office scheme situated on the Kingsway, specifically aimed at targeting the growing creative sector, which will offer flexible co-working offices to smaller start up businesses.


The advent of the several purpose-built student developments in and around the City is much welcomed but we must introduce a greater diversity of footfall and activity by delivering these new office schemes.


The face of our City centre must change dramatically if we are to compete in the new digital age and we have to provide the appropriate commercial space to attract those companies who are going to play a major role in this new economy.


Picton Yard


Grade A Offices Swansea City Centre 2,500 – 42,000 sq ft Available 2021


www.bp2property.com COMMERCIAL PROPERTY MONTHLY 2020 21


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