Belfast in line for multi-million development
Belfast was today on course to get two new multi-million pound city centre retail developments.
The developments will cost more than €480m (£300 Stg).
Eighteen months ago, the Department for Social Development in Northern Ireland selected a Dutch developer’s plans for a €325m (£200m Stg) scheme over a €244m (£150m Stg) proposal put forward by an all-Ireland competitor.
But the department said today it had reached ‘‘an understanding’’ with the cross-border company Dunloe Ewart on how proposals for its scheme could be designed to coexist with the development the department is supporting.
Dunloe Ewart now plans a reduced scale €162.5m (£100m Stg)-plus development and a clearly defined and differentiated tenant profile from that planned by the Multi Development Corporation for the city’s Victoria Square.
At the same time they decided to withdraw objections to the Victoria Square scheme and proposed vesting order, said the department.
A public inquiry into the MDC plan is due to open in Belfast tomorrow following objections from some of those affected by the vesting order.
The Victoria Square scheme involves provision of 500,000 sq ft of mainly retail space including a major department store, apartments and leisure facilities. It will provide a linkage between the heart of Belfast and recent development along the River Lagan.
The alternative Cathedral Way scheme, fronting on the city’s main shopping thoroughfare Royal Avenue, would add to and open up the redevelopment of what has become known as the Cathedral Quarter.
A department spokesman said: ‘‘The Department remains committed to securing a multi-million pound retail development for Victoria Square and is content that Dunloe Ewart’s new proposals could be designed to coexist with the regeneration of Victoria Square.’’
Under the understand signed with Dunloe Ewart their development would be limited to 200,000 sq ft of retail space, 75,000 less than they originally proposed, and without a previously planned department store and hotel.
It would be designed for, targeted and marketed at ‘‘the type of retailers unlikely to be attracted to a scheme at Victoria Square, ie middle market traders, to balance the high quality retail destination proposed at Victoria Square,’’ said the joint agreement.
Nigel Kinniard, head of Dunloe Ewart in Northern Ireland welcomed the move, which he said ‘‘brings regeneration to an important part of Belfast and quickens the city centre’s ability to expand and improve the quality of its retail offer.’’
He added: ‘‘The agreement also creates a winning situation for everybody that wants to see the rapid development of the city centre’s retail core.’’
He said the company would now be moving ahead with its revised scheme and would aim to open in 2004.
