£2.2bn worth of new investment opportunities, which will create new homes and jobs, have been launched today (Thursday 14 March) by the Department for International Trade.
Launched at international property event MIPIM, the new projects include an array of development opportunities in England and the government’s first Wales property investment portfolio, worth £1.19 billion.
Among the new investment opportunities on offer to international investors is a 444-acre ‘experiential’ resort in Oxfordshire and 3 new garden communities in North Essex, set to create more than 43,000 new homes over the next 50 years.
International Trade Secretary Dr Liam Fox MP said:
“The portfolios we are showcasing at MIPIM represent the wide array of real estate investment opportunities the UK has to offer that can satisfy the needs of every type of international investor.
“These developments will create more jobs and homes for our residents, delivering essential infrastructure and I am incredibly pleased my department, in conjunction with Homes England and MHCLG, have supported their launch. ”
Secretary of State for Wales Alun Cairns said:
“This first Welsh portfolio presents a real opportunity for international investors to capitalise on our nation’s innovation and expertise.
“I’m delighted to present a broad range of projects across all parts of Wales which demonstrate our strengths in sectors ranging from tourism to business and clean energy generation. Each opportunity showcases what makes our beautiful, resourceful country such an attractive destination for investment and business and I look forward to discussing them further with potential investors.”
DIT will lead the government’s presence at MIPIM, where over 23,000 people are expected to attend, including investment representatives from over 100 countries.
The UK government will host a number of panel sessions at the UK pavilion throughout the week, discussing topics including the opportunities for investing in the Northern Powerhouse and devolved nations, and the impact technology will have on the real estate sector in the future.
The portfolios showcased at the UK pavilion have been put together by the DIT’s Capital Investment team which aligns with the greater governmental initiative to attract and support both local and foreign investment into infrastructure, property developments and energy projects throughout the UK.
- Cardiff: a mixed office and multi-storey car park development in Cardiff Central Quay
- Milford Waterfront: a leisure-focused development in Milford Haven
- Barry Island: Nells Point; a beachside tourism development on Barry Island
- Swansea: Phase 2 of a mixed development in Swansea Central
The four new projects will be combined with two existing projects in Anglesey North Wales. These are opportunities for investment into the development of a £35 million marine energy infrastructure facility and development of a 80 hectare holiday village along the coastline of Holy Island. These were announced as part of the meeting of the Board of Trade in Swansea last year.
Swansea Council leader Rob Stewart and cabinet member for investment, regeneration and tourism Robert Francis-Davies are at the event to promote the city.
Cllr Stewart said: “Swansea’s presence at MIPIM shows the scale of our ambition.
“The world’s biggest investors are here and it’s them who we want as partners in developing our world-class future city centre.
“Swansea Central illustrates our vision to regenerate and create a vibrant city centre, combining best in class public realm with a commercial hub, higher brand retail, apartment living and major new leisure attractions.”
He and Cllr Francis-Davies are focusing on Swansea Central Phase Two which they say will be a vibrant new destination at the heart of the city centre.
Covering an area approximately from St Mary’s Church to the St David’s multi-story car park, it will aim to mix the best existing buildings with new developments.
This could include a 200,000 sq m public sector office hub, almost 150 apartments, a cinema, restaurants and retail units.
It has outline planning permission and, when built, would complement the neighbouring £120m Swansea Central Phase One – including 3,500-capacity arena – which is due to be built in the next two years.
The project owner for Swansea Central Phase Two is the council which owns all the land required for the development.
The council plans to be an anchor tenant for about a third of the commercial space and is in negotiation with other public bodies for the remainder.
Swansea is the city focus of the City Deal, a major capital investment programme jointly supported by the Welsh Government and UK Government.
Swansea Council is being advised by real estate specialists Cushman and Wakefield.