Contracts between the Welsh Government and Bridgend based Waterstone Homes have been completed paving the way for a new £8m prestigious development on SA1 Swansea Waterfront.
Waterstone Homes has secured a prime water-fronted site from the Welsh Government that overlooks the Prince of Wales Dock and adjacent to the iconic Norwegian Church.
Waterstone’s have planning consent to construct a high quality development comprising 8,000 sq ft of waterfront retail/leisure space, with outside seating for restaurant operators, and 25 apartments over four floors above.
It is anticipated to create and support 220 jobs and generate over £22m of economic activity.
This is another significant investment at SA1 by Waterstone as the company was behind a substantial development which included the Premier Inn, Tesco and the Waterfront Beefeater.
Economy Minister Edwina Hart said: “The SA1 quarter has transformed what was disused dockland into a vibrant development which continues to provide investment opportunities for Welsh developers, creating jobs, supporting businesses and providing homes. It is a flagship development driving forward the regenerating of the area.”
Simon Jehu from Waterstone Homes said: “It’s fantastic to continue to develop out the SA1 Swansea Waterfront site. Developments like this and others that we are working on in the area will help Swansea start a new chapter in its great history. We have a lot of interest in both the apartments and the retail space and anticipate this being a great success.”
Waterstone Homes, which is part of the Jehu Group , has built more than 500 homes across South Wales and the West of England over the last few years.
Andrew Gibson, Director at Cushman & Wakefield who act for the Welsh Government as land agent at SA1, said: “This latest transaction to complete at SA1, with regional developer, Waterstone Homes, demonstrates the continued strength in this exciting location. SA1 has entered the next phase of its development and this scheme is a key piece of that jigsaw, providing a high quality residential offering and further leisure facilities for the scheme.”