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St. Modwen Properties PLC Agrees Terms to Deliver First Phase of Swansea University's Science and Innovation Campus

Tuesday, 5 Feb 2013 02:00am EST 

St. Modwen Properties PLC announced that it has agreed terms with Swansea University for the provision of the £150m first phase of the New Science and Innovation Campus. The entire Campus will be located on St. Modwen's 65 acre Transit site, one of the holdings within a 2,500 acre portfolio acquired from BP in 2009, and which has been fully remediated. The first phase of this scheme, which received detailed planning permission in December 2012 from Neath Port Talbot County Borough Council, will comprise 700,000 sq ft of development including 430,000 sq ft of academic space, 899 student apartments and associated retail space. This will deliver world-leading research, innovation and education facilities for Swansea. St. Modwen expects to start on site in April 2013. The University has already secured European Investment Bank and Welsh Government funding whilst St. Modwen has also secured the investment sale of 50% of the student accommodation to a major institutional investor. An outline planning permission is already in place for future development phases which will be in excess of £300m in value. 

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