South Wales Evening Post - 21 January 2009
Although plans for the £1 billion redevelopment of Swansea city centre were due to be presented last autumn, the company behind the scheme has said it is still committed to the project.
Hammerson and Urban Splash — the partnership behind the £500 million revamp of Birmingham's Bullring, which now attracts around 20 million shoppers a year — was chosen to spearhead the revamp of Swansea's major retail and waterfront sites.
The companies were due to present plans for the redevelopment of the city centre last autumn.
However, no proposals have yet been released.
Hammerson has suffered a turbulent year, seeing its share price fall from a high of 624.5p per share to a low earlier this week of 400.5p.
The company is also rumoured to be looking at selling off some of its assets, prompting fears that its interest in a future scheme in Swansea could wane.
However, a company representative has confirmed that Hammerson remained committed to the £1 billion regeneration of Swansea city centre.
Simon Betty, development manager for Hammerson said: "We are working closely with the City and County of Swansea and the Assembly on our regeneration proposals.
"These form an integral part of the city's growth agenda, to which we remain committed, alongside delivering the best possible scheme for Swansea."
Details of any future Hammerson scheme could not be revealed, because the company is currently in a closed period for financial reporting ahead of its annual results being announced next month.
A Swansea Council spokesman said: "This is going to be one of the most important redevelopment schemes ever undertaken in Swansea and will see the city transformed into one equipped to compete with the very best.
"The scheme is long-term and complex, but we're moving forward in partnership with the developers and the Assembly Government.
"We're also continuing to work alongside the developers in the preparation of legal agreements and a development brief, which we hope will go out for comprehensive public consultation later this year.
"All feedback will then be taken on board before the submission of any planning applications.
The spokesman added: "In the meantime, Swansea has a lot to look forward to.
"The new three-storey retail complex on Princess Way is being opened in the spring and a near £4 million environmental upgrade of the city centre is now complete.
"These projects are acting as exciting forerunners for what's to come."
