The 'Train Shed' at Barry Waterfront is set to go on the market for lease.

The Vale of Glamorgan Council Cabinet will hear a report today seeking approval to market the site for commercial leisure use.

The property was previously leased to Barry Railway Engineering Company (BRECO) Limited. The 'Train Shed is vacant', after the lease was terminated in 2020.

The building is located within the Innovation Quarter, a 19-acre portion of land purchased by the council with Welsh Development Agency grant aid, making the regeneration a joint venture between the Vale of Glamorgan Council and the Welsh Government.

The report asks the cabinet to authorise the marketing of the 'Train Shed' and an estimated four parking spaces for a ten-year lease, with a break clause at five years.

It also seeks "that authority be granted to the Head of Regeneration and Planning to utilise the commercial rental income for the maintenance of the building and that any surplus income (after deducting any income due for payment to the Welsh Government in accordance with the IQ Joint Venture) be reinvested into regeneration initiatives."

"It is noted that the Council would currently receive 43.3% of the income from any lease, with the remaining 56.7% awarded to the Welsh Government, in relation to the Innovation Quarter Joint Venture Agreement between the Council and the Welsh Government. It is proposed that any surplus income be reinvested into to regeneration projects," reads the report.

To date the multi-million-pound development projects delivered include along with the former Skills Centre building at the Innovation Quarter include:

• the award-winning Pumphouse conversion,
• Premier Inn and Brewers Fayre Restaurant,
• West Quay Medical Centre,
• the BSC (Business Services Centre) and
• the mixed-use conversion of Hood Road Goods Shed property and new ship container village and a new apartment block for Newydd Housing Association.