Cyprium, SA1 Swansea Waterfront

A project was secured in 2004 through a design competition in joint venture with Terrace Hill Group Plc to develop the landmark commercial site at the entrance to the dockland regeneration area SA1 Swansea Waterfront with a scheme for a grade A office building of 3,726 m2 (40,110 sq .ft) GIA. Initially the project was grant aided from the Welsh Development Agency (WDA), but this was changed to a head lease for a term of 20 year without breaks to the WDA, guaranteed by the Welsh Assembly Government.

Following the commencement of construction in 2005 a further phase of 2,665 m2 (28,695 sq.ft) GIA was constructed to meet the requirement of an under letting of a total of 6,505 m2 (70,000 sq.ft) to Admiral Insurance. The completed investment was sold in 2006 to a Northern Irish fund for a yield of 4.9%.