Plans to redevelop Swansea University’s Hendrefoilan Village moved forward today as the preferred bidder, St. Modwen, the UK’s leading regeneration specialist, exchanged contracts on the purchase, subject to planning permission.
Located in one of Swansea’s most affluent areas, the 52 acre Hendrefoilan site provides an opportunity to create a high quality development of around 300 new homes across 20 acres. The remaining areas will be preserved as woodland and open green space. St. Modwen intends to submit a planning application within the next six months. Redevelopment is anticipated to commence in the latter part of 2015 following the completion of 892 student residences at Bay Campus.
Commenting on the news, Rupert Joseland, South Wales Regional Director for St. Modwen said: “The development will have excellent links to Swansea city centre, Swansea Bay and the Gower Peninsula. It presents a golden opportunity for St. Modwen to create an exclusive residential development of around 300 high quality homes in the prosperous Swansea West ward.”
The property currently comprises a student village with campus accommodation for up to 1,644 students attending Swansea University. Situated in the desirable village of Killay, Hendrefoilan is also extremely well located for access to the local amenities, which include the University’s main campus, Singleton Hospital, Olchfa Secondary School as well as equidistant between Swansea City Centre and The Mumbles just three miles away.
Commenting on the impact of the sale for Hendrefoilan’s resident students, Professor Iwan Davies at Swansea University explained: “The sale and redevelopment of the Hendrefoilan Student Village is in preparation for Swansea University’s new £450 million Bay Campus. The University is creating a unique learning, teaching and living environment including student residences at the Bay Campus which will open in September 2015. The proposed development at Hendrefoilan Student Village is at present scheduled to begin in late 2015 and will be undertaken using a managed process. This means that current site facilities, including the convenience store and student’s union, will be fully maintained for use by our annual resident students until the completion of additional residences on the Bay Campus.”
Scott Caldwell, director of Savills, the sole agent responsible for the sale Hendrefoilan on behalf of Swansea University said: “Hendrefoilan’s sale attracted very strong market interest and some extremely competitive bids. The site’s redevelopment potential and desirable location makes it a win-win for St. Modwen in what promises to be a very successful commercial venture here in Swansea.”
Morgan Cole Solicitors acted as advisers to Swansea University on the sale.