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Tue November 30 2021

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Swansea looks to Bouygues for speculative office development

6 days Swansea is the latest local authority to decide that commercial property speculation is a good use of public money.

The planned development at 71/72 The Kingsway, Swansea
The planned development at 71/72 The Kingsway, Swansea

Swansea Council has handed Bouygues a contract to build a five-storey office building at 71/72 The Kingsway in the city centre.

The new office development, on the site of the old Oceana nightclub site, will have 114,000 square feet of commercial floorspace, with two underground levels. The council is hoping to get “innovative tech, digital and creative sector businesses” to rent floor space.

Bouygues UK will break ground in the coming weeks and is expected to complete in the summer of 2023.

The council has not disclosed how much it is speculating on the project, nor the value of its contract with the French construction company, but it expects the development to be worth £32.6m a year to Swansea’s economy. The project is also supported by the European Regional Development Fund through the Welsh government.

Swansea council leader Rob Stewart said: “We know some businesses have had to leave Swansea in the past to find the kind of high-quality office accommodation they need, so the new development at 71/72 The Kingsway will tackle that trend while also meeting significant unmet demand. Our research shows this remains the case despite Covid having led to far more home working in recent times, with this development providing flexible space that’s fit for the modern office environment.”

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MPU
MPU

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