University of Wales Trinity Saint David secures £50 million deal with HSBC for the Swansea Waterfront Innovation Quarter
Funding secured for first phase of SWIQ development Innovation Quarter will link education with businesses to foster entrepreneurship
Funding secured for first phase of SWIQ development
Innovation Quarter will link education with businesses to foster entrepreneurship
The University of Wales Trinity Saint David (UWTSD) has secured £50m worth of funding from HSBC to develop its Swansea Waterfront Innovation Quarter in the SA1 region of the city. The ambitious city centre development is set to create a new learning neighbourhood in Swansea, connecting education with business, innovation and enterprise.
The HSBC funding will be used for the first phase of construction of the development which will include over 12,000 sq m (130,000 sq ft) of purpose-built facilities for learning, teaching and applied research, as well as social, leisure and wider recreational spaces. The University anticipates that this will also facilitate a number of collaborative projects with other organisations who want to be located adjacent to the University’s development and will act as a stimulus to economic regeneration of the SA1 waterfront area.
Professor Medwin Hughes, DL, UWTSD Vice-Chancellor, said: “Securing this funding from HSBC is major step forward for this innovative development. The Innovation Quarter will not simply be a new campus – it will be a vibrant integrated neighbourhood where we will work with partners to exploit knowledge and expertise to our mutual benefit, develop the skills of current businesses and attract new investment into the region.
“Completing this deal means that construction can begin later this year to ensure the facilities are ready for the University community at the start of the 2018 academic year.”
HSBC brought in its specialist Higher Education team to work hand-in-hand with the bank’s local team, led by Relationship Director Daniel Rees, to provide UWTSD with tailored expertise.
Warren Lewis, HSBC’s Area Director for Corporate Banking in South Wales, explained: “The Swansea Waterfront Innovation Quarter is an important and significant development for the future of the city, the surrounding area and the regional development of Wales. We’re pleased to play our part in its development by bringing together our local knowledge and sector expertise to benefit the University and to help create an environment which will foster innovation and entrepreneurship for years to come.”
The second phase of the development is set to further expand the University’s academic facilities and create over 18,000 sq m (193,000 sq ft) of space for businesses from 2021.
By working in partnership with the Welsh Government and the City and County of Swansea, UWTSD expects the Swansea Waterfront Innovation Quarter will contribute to the ambition of developing a ‘Creative City Region’ strategy and will enhance Swansea’s credentials as a ‘City of Innovation’.
The University received professional advice to secure the funding from international law firm Eversheds and QMPF.
Note to Editor
- The University of Wales Trinity Saint David was established in 2010 through the merger of the University of Wales Lampeter and Trinity University College, Carmarthen. On 1 August 2013 the Swansea Metropolitan University merged with the University. The UWTSD Group comprises two further education colleges - Coleg Sir Gâr and Coleg Ceredigion – as part of a dual sector group structure.
- The University’s Royal Charter 1828 is the oldest in Wales, and it is third behind Oxford and Cambridge in Wales and England. HRH Prince of Wales is the Patron of the University.
- The long term goal is to create a Swansea Waterfront Innovation Quarter that will be situated in a vibrant, modern waterfront location with easy access to the city centre. Its key aims will be to:
• Support and enhance the student experience
• Contribute to the viability and ongoing sustainability of the University
• Stimulate investment and economic benefits to Swansea, the Swansea Bay City Region and beyond
• Provide opportunities for diversifying income streams as the University maximises its engagement with the private sector
• Establish a substantial University presence in the Waterfront area by 2018
The HSBC Group HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,000 offices in 71 countries and territories in Asia, Europe, North and Latin America, and the Middle East and North Africa. With assets of US$2,410bn at 31 December 2015, HSBC is one of the world’s largest banking and financial services organisations.
HSBC Commercial Banking For 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves businesses ranging from small enterprises focused primarily on their domestic markets through to corporates operating globally. Whether it is working capital, term loans, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. As the cornerstone of the HSBC Group, we give businesses access to a geographic network covering more than 90% of global trade and capital flows.
For more information visit the HSBC Website http://www.hsbc.com/about-hsbc/structure-and-network/commercial-banking
For further information please contact:
Tel: 01792 483695
At HSBC contact Richard Chapman:
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