St David's sold to Swansea Council and Welsh Government
Published: 10 January, 2012
DTZ, part of UGL Services, has advised the City and County of Swansea and the Welsh Government on the purchase of St David’s shopping centre in the city from Threadneedle.
The centre forms a key part of Swansea Council and the Welsh Government’s overall regeneration plans for the city centre, which DTZ is also advising both parties on.
The council will be working with its development partner Hammerson to include the site in its city centre retail strategy. In the short term, the council plans to demolish a number of derelict buildings at the centre and replace them with a temporary 160-space car park.
St David’s shopping centre was completed in 1982 but now has more vacant retail units than occupied. Work to demolish the two-storey centre is set to start in March this year.
Paul Ellis, senior director at DTZ said: “We are delighted to have assisted our clients in the acquisition of this key part of the overall Swansea redevelopment area. It is an excellent example of the public sector demonstrating real leadership and commitment to proactively drive forward the pragmatic, phased delivery of such projects, despite the current economic challenges faced in the marketplace.”
