Salubrious Place is situated at the edge of Swansea city centre, in the designated "café quarter" area centred around Wind Street. The mixed leisure complex will be constructed in two phases.
The first phase, due to start in March 2003, will provide a 116 bedroom hotel pre-let to Scottish & Newcastle for 35 years at an initial rent of £220,400 ($350,000) per annum; a 253-space car park pre-let to National Car Parks for 25 years at an initial rent of £131,500 ($210,000) per annum; an 11,840-sf restaurant pre-let to Bakersfield Entertainment for 25 years at an initial rent of £132,000 ($210,000) per annum and another 10,000-sf restaurant leased for 25 years at £60,000 ($96,000) per annum. With these anchor tenancies in place the scheme is roughly 50% let.
The Bank of Scotland is funding the £11 million ($17.5 million) development. DTZ Debenham Tie Leung and E J Hales are the joint letting agents.
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