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St. Modwen Properties PLC (LSE: SMP), the UK’s leading regeneration specialist, announces that it has been granted outline planning permission for the Bay Science and Innovation Campus for Swansea University, which is situated at a former BP storage site on the outskirts of Swansea. 

As owner and developer of the site, St. Modwen will now work closely with Swansea University, the Welsh Assembly Government, BP and the Princes Foundation for the Built Environment, to develop detailed plans for the project; focussing specifically on the £200 million first phase which comprises 300,000 sq ft of academic accommodation, 2,800 student residential units and associated retail space. 

Commenting, Bill Oliver, St. Modwen’s chief executive officer, said:  “The granting of outline planning permission is a significant step forward in the development of the Bay Science and Innovation Campus for Swansea University.  The decision is testament to our ability to identify and acquire large scale sites for remediation and redevelopment into what will eventually become real economic and social assets for the local area and which are also able to create value for our shareholders.  We will now work hard with all of our partners in this project to finalise detailed plans and a set out a clear timetable to completion.”