A wide-ranging plan is helping Swansea Council cut costs, attract new revenue, stimulate regeneration, create homes for local people and tackle the climate crisis.

An update in the council’s 2021-25 asset management plan has been presented to cabinet members.

It explains how the council’s approach to matters such as planning to transform the Civic Centre site, selling surplus property, investing in commercial properties and delivering eye-catching regeneration is proving successful.

Cabinet member David Hopkins said:

“The current plan was approved two years ago; it continues the work of earlier plans, setting out and developing the council’s ongoing approach to the management of its property asset portfolio.

“It sets out the broad framework of high-level asset management initiatives – and this report provides an update on key elements of progress.”

Topics in the report range from the council’s role as a corporate landlord to the way it invests in new property opportunities.

The report flags up the council’s plan to have more of its remaining Civic Centre-based staff relocated to the Guildhall in the next year.

Others will remain at the seafront site as work progresses on new council locations in the city centre, including the former BHS building and a new-build public sector hub close to Swansea Arena.

Vacating the Civic Centre site will allow the council to work with development partners Urban Splash on redeveloping that attractive location, potentially including leisure and homes.

The report also explains how the council manages the disposal of surplus land and property to maximise returns and help fund council services.

This has helped the council create new homes for local people in locations such as Sketty, Gorseinon, Llansamlet and Manselton. More will follow.

Another part of the report focuses on how the council invests in commercial properties, with four recent acquisitions increasing council revenues by around £350,000.

Regeneration opportunities form part of the asset plan, with projects such as Swansea Arena and the under-construction 71-72 Kingsway providing high quality, innovative and sustainable developments.

The council’s long-term strategic regeneration partnership with Urban Splash continues to make good progress, according to the report. Early design work is underway for locations such as Copr Bay Phase Two/Swansea Central North, the Civic Centre/City Waterfront site and the former St Thomas railway station site.

Meanwhile, the refurbishment and redevelopment of listed Hafod Copperworks Powerhouse and adjoining buildings for Penderyn Distillery is nearing completion, with the tenant due to be operational there this year.

Refurbishment works also continue at the historic and derelict Palace Theatre, saving a part of Swansea's heritage and acting as a regeneration catalyst for High Street. The innovative digital workspace will offer a home for growing businesses in the tech, digital and creative sectors.