Swansea Council has signing heads of terms agreements with two high street retailers and a leisure operator for the former Debenhams store.
Located in the Quadrant Shopping Centre, the ground floor of the former Debenhams building will be subdivided into two units for the well-known retail tenants with the upper floors will be repurposed for the leisure operator.
Refurbishment work including re-roofing and the stripping out of fixtures and fittings is planned for this summer so the building is ready for tenant fitout from the autumn.
The names of the new tenants will be revealed when leases are signed completed. The news follows-on from the council purchasing the building with Welsh Government support after Debenhams went into administration.
Swansea Council leader Rob Stewart, said: “We know how important the former Debenhams building is for local people and city centre businesses.
“That’s why we’ve been working tirelessly to attract retail and leisure tenants and reach a stage where refurbishment work can take place to prepare the building for occupation once again.
“Due to open in early 2026, this will bring far more people and activity back to the Quadrant and the city centre while also creating more confidence and helping attract even more investment and jobs in future.
“It’ll also help tackle the challenges of online shopping and people heading elsewhere to shop.”
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Work is also starting this summer on a revamp of Castle Square to create a far greener destination at the heart of the city centre.
And in a further boost for city centre footfall and spending, the new office development at 71/72 Kingsway is soon to be officially opened. Two tenants have already been announced for that development and more will be confirmed in the coming months.
Robert Francis-Davies, Swansea Council’s cabinet member for investment, regeneration and tourism, said: “The reopening of the former Debenhams unit will also combine with schemes including the Y Storfa community services hub at the city centre’s former BHS unit that’s due to be finished later this year.
“Private sector led schemes like Princess Quarter and the living building are making considerable progress too, and a public sector hub will be part of a larger development at the former St David’s Shopping Centre site.
“These schemes are part of a £1bn regeneration programme that’s aimed at creating jobs for local people and generating the kind of city centre footfall that will encourage more shops and other businesses to open there.”
The former Debenhams anchor store closed in 2021 when the company went into administration. The council bought it backed by £2.85m of Welsh Government funding. The purchase price was £3.15m with a further sum of just over £100,000 spent on professional fees and roof repairs.
In January last year Mr Stewart said further support from Cardiff Bay had been provided to help reconfigure the building, taking the total Welsh Government funding to £4.5m.