Hammerson is to walk away from its planned 600,000 sq ft retail and leisure scheme in Swansea.
The REIT is understood to see other projects – such as those in Newcastle and Glasgow – as more attractive investment prospects.
Hammerson had signed a co-operation agreement to develop the scheme. This expires next week and will not be renewed.
The move follows Urban Splash’s withdrawal from the scheme in 2009 when the decision was made to remove the 1,000-home residential element of the project.
A spokesman denied that the move signalled a shift away from regional projects.
Hammerson pulled out of its plans to redevelop the £600m Sevenstone scheme in Sheffield in July.
All parties declined to comment.
chris.berkin@estatesgazette.com
