Deal Signed to Start Swansea £150m New Campus First Phase
Swansea University has signed a deal with developer St Modwen to build the £150m first phase of a new Science and Innovation Campus. The project on an old BP refinery site in Neath already has detailed planning permission for 430,000 sq ft of academic buildings and 900 student apartments. Work on the first building will get underway in April 2013, with BAM Construction, Leadbitter, Vinci and Willmott Dixon in the tender race to build a £23m innovation hub centre at the site.
The campus will be located on St. Modwen’s 65 acre Transit site to the east of Swansea Docks, one of the land holdings within a 2,500-acre portfolio acquired from BP three years ago. The University has already secured European Investment Bank and Welsh Government funding while St Modwen has secured the investment sale of 50% of the student accommodation to a major institutional investor. Outline planning permission is already in place for future development phases worth more than £300m.
Bill Oliver, Chief Executive of St. Modwen, said: “We expect the project will create a variety of highly skilled jobs, providing a significant economic boost for Swansea and the wider area during a period characterised by low growth and investment. This is an incredibly exciting project and one that complements our extensive experience in regenerating complex sites. We are very pleased to have agreed terms and look forward to engaging with Swansea University, Neath Port Talbot Council and other stakeholders to progress the delivery of this substantial and strategic development.”