With almost €3 billion of investment over the past decade, Belfast's transformation has been impressive. Regeneration is continuing and there are many new opportunities for investors and developers.
Our city centre regeneration and investment strategy identifies a number of strategic development areas.
We are always keen to work closely with and encourage developers to bring forward key schemes and to this end we have allocated €25 million development funding to support major projects.
The jobs growth likely to result from the reduction in corporation tax to 12.5 per cent in 2018 means there will be significant growth in city centre Grade A office accommodation. Rising rentals mean that there are opportunities for developers to bring forward schemes in this area.
Our tourism boom and investment in infrastructure, such as the expanded Belfast Waterfront and Titanic Belfast which was recently named the world’s most popular tourist attraction, is leading to significant growth in demand for beds in the city and Belfast has seen a total of 27 hotel development schemes enter the pipeline in the last 12 months with over 3,800 rooms either on-site, planning granted, planning submitted or in pre-planning.
We are also actively targeting a range of key international retail brands not currently present here. For several areas, planning approval is already in place. And alongside the positive employment growth predictions, the arrival of 18,000 staff and students in the city each day with the development of the new Ulster University campus ensures there will be a strong demand for new retail and leisure offers.
Get in touch with us and we can fast track your application and planning permissions.
North East Quarter
The North East Quarter is home to Royal Exchange, a retail-led, mixed-use development that lies within the city’s retail core and which will provide an important link between the traditional shopping streets, Victoria Square shopping centre and the emerging activity in the Inner North.
Belfast Transport Hub
Transport-led regeneration project which will see the redevelopment of Belfast’s main bus and train station. This 20-acre mixed-use development site will comprise a multi-modal transport hub alongside commercial, leisure and residential facilities. Specific Opportunities include:
- 70,000 sq m of commercial development
- 8,150 sq m of leisure and retail space
- 46,000 sq m of residential space
Concept plans are currently available and a public consultation is underway. A planning application is likely to be submitted mid-2017 with developer/infrastructure partner procurement in 2016-17.
- Find out more about the Belfast Transport Hub
The City Centre Regeneration and Investment Strategy identifies the Inner North Special Action Area which sits to the north of the prime retail pitch and is anchored by a number of developments: the £250m redevelopment of the Ulster University campus, Belfast City Council’s Joint Venture project to redevelop the former Belfast Telegraph Building; the planned £35m redevelopment of Central Library, and a planned visitor attraction telling the ‘Belfast Story’.
The Inner North is an area of major opportunity within the City Centre which sits adjacent to the existing CastleCourt shopping centre and the Royal Exchange development in the North East Quarter of the city centre.
The East Bank Area of the Lagan is a £200m waterfront development opportunity on one of the city’s prime development areas. The site sits in an important location between the east of the city and the traditional City Centre, and provides three large land parcels, each in single ownership.
The Giant’s Park at the North Foreshore is the largest redevelopment site in Belfast today comprising of 340 acres/138 hectares, with a £300m GDV, providing various investment opportunities across a range of sectors.
This former landfill site has significant water’s edge frontage as well as excellent links to airports major roads and the port. It offers huge potential to attract investment from the cleantech industry, film and media industry and commercial leisure led/mixed use sectors.
The southern portion of the site area benefits from newly completed infrastructure works including roads (part funded by ERDF), installation of key services and a new entrance, as well as high quality new landscaping.
Belfast’s Titanic Quarter is one of the world’s largest urban-waterfront regeneration projects. Consisting of over 185 acres on the site where RMS Titanic was designed and built. Phase 1 has developed a destination on the very edge of the traditional City Centre. £385million has already been invested and around 18,000 people live, work and study in Titanic Quarter, which is now attracting over one million visitors each year.
With 150,000 sq m completed and a further 300,000 sq m with planning approval, Titanic Quarter’s sheer scale allows it to offer a diverse range of modern workspace accommodation.
York Street Interchange and Sailortown Masterplan
Transport is the key to building connectivity to and within Belfast and ensuring capacity to meet ambitions for growth. Our transport network must have the capacity to accommodate a significant increase in the number of people working in the city. The Department for Infrastructure’s proposal for the York Street interchange is strategically important for vehicular access in the city as it will alleviate a significant bottleneck at the M2/Westlink junction which adversely impacts on City Centre traffic volumes and congestion levels on a daily basis. The Department published the Notice to Proceed in November 2016 and recently announced that funding of £4million will be made available to develop the York Street interchange scheme to a construction ready state and has confirmed that contract award for the scheme development will be progressed.
To take advantage of the development opportunities created by the interchange, and to help connect emerging City Centre development, the Department for Communities has developed the Greater Clarendon sand Sailortown Masterplan.
City Quays is the planned regeneration of around 20 acres of former docklands on the very edge of Belfast City Centre, providing £250m of mixed-use development. The area is already taking shape as an attractive part of the city and significant further development opportunities exist. Key projects include:
- City Quays 1 – An approved outline masterplan includes a mix of Grade A office space within City Quays 1, providing 7,500 sq m of office space, which is already completed.
- City Quays 2 – provides for 11,600 sq m of additional office space and a 188 bed Marriott hotel.