The regeneration project aims to bring more leisure and hospitality facilities to the city

Plans to transform Swansea’s landmark Civic Centre on the seafront have taken a major step forward, with Swansea Council’s cabinet giving the go-ahead for further work to take place which will help inform a future planning application.

The redevelopment, led by the council’s regeneration partners Urban Splash, aims to bring cafes, bars, shops, apartments, workspaces, and leisure areas to the largely vacant building. Proposals include 15 commercial units on the ground and lower floors, around 140 apartments above, and unique attractions such as an aquarium and a saltwater lido.

Set in a prime coastal location, the civic centre occupies one of the most enviable plots in the city – a space many believe holds money-can’t-buy views and untapped potential.

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The regeneration plans were unveiled at a two-day public exhibition held earlier this month at the Y Storfa community services hub. According to organisers, the response had been overwhelmingly positive, with strong public interest in what could become one of Swansea’s most ambitious redevelopment projects in a generation.

Council leader Cllr Rob Stewart said the project marks the first phase of a wider vision for the Civic Centre site. “The Civic Centre sits on one of the most spectacular waterfront sites in the UK, but the building is now largely vacant following the successful move of services into the city centre,” he said.

“We want to see it transformed into a vibrant destination with new homes, independent businesses, leisure and community spaces that will benefit local people while attracting more visitors to Swansea.” Never miss a Swansea story by signing up to our newsletter here

David Warburton, Development Director at Urban Splash, added: “It’s an extraordinary building in an unrivalled waterfront location, and we see enormous potential to create a place that people will want to live in, visit and spend time in.

“Our ambition is to sensitively repurpose the building, delivering high-quality homes alongside dynamic spaces for independent businesses, hospitality, leisure and community uses – creating activity throughout the day and into the evening.”

Many council services that were previously based at the Civic Centre have now moved to the Y Storfa community services hub on Oxford Street. This includes the central library, contact centre, revenues and benefits, and the West Glamorgan Archive Service.

The Civic Centre redevelopment represents the first step in Swansea Council’s broader plan to strengthen the city’s waterfront as a leading destination.

The city centre has already seen significant investment in recent years, with projects such as the indoor arena and the privately-led restoration of the Albert Hall expanding cultural and leisure offerings. Retail also continues to perform well in some areas, while empty upper floors of commercial units are being converted into flats, potentially boosting footfall for local businesses.

The Topix slumped 3.2% to 3,772.17, the fastest decline since April, while the Nikkei declined 3.1% ‌to close at ⁠56,279.05, ⁠the biggest drop since November last year, after falling as much as 3.4%.

“Ongoing gains in crude oil futures on worsening Middle East tensions, together with a stronger U.S. dollar and weaker yen, are fuelling views that inflation could accelerate,” said Maki Sawada, a strategist at Nomura Securities.

“This uncertainty, seen as potentially impacting future monetary ⁠policy, is ‌weighing on the equity market overall.”

The U.S.-Israeli air war against Iran escalated with no end in sight, ⁠as Israel struck Lebanon in response to Hezbollah attacks and Tehran continued launching missiles and drones at Gulf states hosting U.S. military bases.

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All 33 industry subindexes on the Tokyo bourse were down, led by a 5.5% fall in the oil and coal sector followed by a 5.4% decline in the transport equipment industry.
Toyota Motor, the world’s largest automaker ‌by sales, dropped 6.1%, the sharpest drop since September 2024, while Japan’s largest airline, ANA Holdings, fell 3.3%. ENEOS Holdings, Japan’s biggest refiner, lost ⁠6.3%, the sharpest drop since April.

The largest percentage decliner, though, had nothing to do with the Middle East tensions.

Sumitomo Pharma tanked 19.1%, the biggest fall in nearly 12 years, as investor concerns over a new share issuance outweighed an upward revision to its full-year net profit forecast for the current fiscal year.

There were 219 decliners on the Nikkei index against six advancers.

Shop price inflation slowed more than expected in February, offering households tentative relief from cost-of-living pressures as retailers stepped up discounting and global food prices eased.

New data from the British Retail Consortium (BRC) and NielsenIQ showed shop prices rose 1.1 per cent year-on-year in February, down from 1.5 per cent in January. The deceleration reflects intensified competition across both food and non-food sectors, with retailers cutting prices to stimulate demand amid weak consumer confidence.

The figures come ahead of the spring statement, when the Office for Budget Responsibility is due to update its outlook on growth and public finances. They add to recent signs that inflationary pressures are moderating, after official data showed UK consumer price inflation fell sharply to 3 per cent in January, moving closer to the Bank of England’s 2 per cent target.

Food prices remain elevated but are increasing at a slower pace. Annual food inflation eased to 3.5 per cent in February from 3.9 per cent the previous month. Fresh food inflation edged lower, while ambient food inflation, covering products such as coffee, pasta, canned goods and other cupboard staples, fell to 2.3 per cent, its lowest level in four years.

The BRC said lower global commodity costs were filtering through supply chains, helping to stabilise grocery prices. However, it emphasised that competitive dynamics were playing a crucial role, particularly in discretionary categories such as fashion, health and beauty.

Prices for non-food items, including clothing, electronics and household goods, declined by 0.1 per cent year-on-year, compared with 0.3 per cent growth in January. Heavy promotional activity in fashion and personal care, coupled with softer demand due to unseasonal weather and fragile sentiment, contributed to the decline.

Helen Dickinson, chief executive of the BRC, described the slowdown as a “welcome relief” but warned that pressures had not disappeared. She noted that while the pace of price rises is moderating, many households continue to feel strain from higher cumulative costs over the past three years.

Mike Watkins, head of retailer and business insight at NielsenIQ, said pricing behaviour had shifted notably since the start of the year. “Competitive pricing across both food and non-food is helping to bring down inflation,” he said, though he cautioned that demand remains unpredictable as shoppers continue to prioritise essentials and trade down to value options.

The easing in shop price inflation follows a mixed economic backdrop. The government recently reported a record £30.4 billion budget surplus in January, driven by strong tax receipts and lower debt interest payments. Retail sales also surprised on the upside. However, unemployment has climbed to a five-year high and economic growth remains sluggish, tempering optimism.

Retailers have also flagged potential future cost pressures. The upcoming implementation of the Employment Rights Act and higher employment costs could increase operating expenses later this year. Industry leaders warn that if secondary legislation raises labour or compliance costs significantly, businesses may be forced to pass some of those increases on to consumers.

For now, the slowdown in shop price inflation suggests that competitive retail markets and easing global input costs are helping to cushion households. Whether that trend continues will depend on energy prices, wage dynamics and the broader economic outlook in the months ahead.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

In a statement on Monday, the company said it has signed a Memorandum of Understanding (MoU) with Elematic India, an arm of Finland-based Elematic Group, for sourcing of precast concrete technology.

The MoU was signed on February 19, 2026, in the presence of Petteri Orpo, Prime Minister of Finland and also the Ambassador of Finland Kimmo Lahdevirt.

The agreement was formalised between Veshesh Gaur, Director of Gaurs Group, and Chander Dutta, MD of Elematic India and Teppo Voutilainen, CEO of Elematic Oyj, Finland.

Under the agreement, Gaurs Group will invest Rs 100 crore to set up a precast manufacturing plant in Greater Noida.

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The facility, spread over 5 acre land, will manufacture advanced precast concrete components that would include slabs, columns, beams and walls.
The plant is expected to be operational within six months. Gaurs Group has also placed an advance order to Jindal Elematic, Alwar to supply 45,000 units of modular bathrooms and 10,000 units of kitchen pods for its under-development projects.

The order book is worth Rs 150 crore.

The company intends to integrate technology-led construction practices to improve execution efficiency and reduce project timelines by almost 30 per cent.

Precast construction enables key structural and utility components to be manufactured and assembled off-site in a controlled environment and installed on-site.

Veshesh Gaur said, “Construction technology is becoming increasingly important as the scale and complexity of residential developments continue to grow. Our partnership with Elematic will enable us to integrate advanced precast manufacturing into our construction processes, improving efficiency, quality control and project timelines.”

Gaurs Group is one of the leading real estate developers in Delhi-NCR. It has developed many townships, Group housing and commercial projects.