Another tenant has been announced for a major new office development in Swansea city centre that’s now officially open.
Financial company Futures First have been confirmed for the 71/72 Kingsway scheme that will accommodate up to 600 jobs.
This follows on from the announcement of flexible workspace provider IWG and travel and leisure company TUI as building tenants earlier this year.
Developed by Swansea Council, the 104,000 square foot scheme is being part-funded by the Swansea Bay City Deal.
Futures First will take up over 4,300 square feet at the development.
Tenant fitouts will now take place at the development ahead of staff moving in.
Advanced discussions for all remaining space at the scheme are also ongoing and it’s anticipated the development will be 100% let in the coming months.
Guests in attendance at an official opening event included Eluned Morgan, First Minister of Wales; Dame Nia Griffith, Wales Office Minister at the UK Government; Jayne Bryant, the Welsh Government’s Cabinet Secretary for Housing and Local Government; and Julie James – Member of the Senedd for Swansea West and the Welsh Government’s Minister for Delivery.
Representatives of Swansea Council and 71/72 Kingsway tenants were also present.
Cllr Rob Stewart, Swansea Council Leader, said: “Swansea has suffered from a lack of high-quality office accommodation in recent years, which had led to a risk of businesses and local jobs moving or setting up elsewhere.
“The 71/72 Kingsway development will help stop that from happening while giving businesses there the opportunity to collaborate, network, grow and create even more employment opportunities for local people.
“We’re delighted to have secured another tenant for the building as detailed talks continue with other companies for the remaining spaces there.”
Cllr Robert Francis-Davies, Swansea Council’s Cabinet Member for Investment, Regeneration and Tourism, said: “We know local people want more shops and a more thriving city centre, but this will only happen if there’s enough footfall there to attract those kinds of businesses, given the challenges of online shopping.
“The 71/72 Kingsway development will combine with many other schemes either complete, under construction or planned to get thousands more people working and living in the city centre, helping to support our existing traders while encouraging others to set up there in future.
“The scheme is part of a regeneration programme worth over £1bn that’s unfolding to create a modern, vibrant city centre that meets local people’s needs and aspirations.”
Wales Office Minister Dame Nia Griffith said: “It’s great news that Futures First will be the latest tenants in Swansea’s landmark 71/72 Kingsway office space.
“The UK Government’s investment in these new facilities, along with our partners, unlocks economic growth and creates jobs and opportunities for local people, delivering on our Plan for Change.”
Jayne Bryant, the Welsh Government’s Cabinet Secretary for Housing and Local Government, said: “Our Transforming Towns programme continues to provide important support to town and city centres across Wales.
“Since 2020, we have provided £91m for regeneration projects in Swansea alone.
“The 71/72 Kingsway scheme will provide high-quality office accommodation in the city and has attracted important tenants such as Futures First, IWG and Tui, which in turn will generate jobs and breathe new life into the city.”
Part of the Hertshten Group, Futures First is a financial company that provides market analysis on derivative products including commodities, equities and energy products on global exchanges.
Ryan Orton, Senior Vice President at Future First, said: “We’re thrilled to be part of the 71/72 Kingsway development. This state-of-the-art facility perfectly aligns with our commitment to innovation and represents the future of business in Swansea.
“The building’s modern infrastructure and prime location will significantly enhance our team’s productivity while providing a collaborative workspace that will boost our operations.
“Developments like this demonstrate Swansea’s growing reputation as a hub for forward-thinking businesses, and we’re excited to grow alongside this dynamic city while contributing to its economic growth.”
The 71/72 Kingsway scheme includes office spaces and shared workspaces, alongside an event hall and spaces for food and beverage businesses.
A green rooftop terrace with views over Swansea Bay also features, along with solar panels on top of the building and heat recovery systems to minimise energy use.
