Aim-listed developer Terrace Hill is considering a 40,000 sq ft speculative office scheme in Swansea, South Wales, after securing a 70,000 sq ft pre-let to Admiral Insurance in the city.
Admiral has taken a lease on the Cyprium building at the SA1 waterfront development for a term of 15 years at £12.75 sq ft, sublet from the Welsh Development Agency which has an over-riding lease on the development.
Adam Pratt, director at Terrace Hill, said: “SA1 is a terrific waterside regeneration project that has attracted Admiral as a first class tenant.
“Terrace hill is delighted to be working with the Welsh Development Agency on the first commercial phase of the 100 acre scheme.”
Knight Frank acted for Terrace Hill. King Sturge advised Admiral Insurance.
References: EGi News 20/12/05
