£20m BUSINESS BOOST FOR BELFAST

£20m BUSINESS BOOST FOR BELFAST

4th September, 2013

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Titanic Quarter Lodges Planning Application For New 190,00 sq ft of Business Space

Titanic Quarter has lodged a full planning application for major new business space which includes office accommodation and supporting facilities.  It is believed to be the largest new commercial development proposed for Belfast since the banking crisis began in 2007. 

The 190,000 sq ft facility, located beside Belfast Metropolitan College’s Titanic Quarter Campus, will be marketed primarily at companies providing hi-tech support to the Financial Services industry.

Titanic Quarter is already home to a number of high-profile firms in the sector, such as Citi, and the new £20m building will complement plans to develop a 600,000 sq ft Financial Services Centre, a first for Northern Ireland.  Pending the granting of planning permission, it’s anticipated that the building will open in autumn 2015, accommodating a further 2,000 workers in the area.

David Gavaghan, Titanic Quarter’s CEO, said:

“As we see the first tangible signs that we are moving out of one of the longest economic recessions in the last century, it is time to ensure that Belfast can continue to offer potential investors flexible, modern, high-end business accommodation.

“Titanic Quarter is confident that this new development will fill a clear gap in the market, enabling Belfast to meet the requirements of the global knowledge economy, as well as offering indigenous firms the opportunity to expand in a dynamic area which is already home to over 100 successful and innovative businesses.

“We are already working hard to market the building and the city as we continue to develop Titanic Quarter as one of the world’s most exciting waterfront locations.

“Belfast is establishing a strong reputation in financial services, with the Financial Times recently listing the city as the number one destination globally for financial technology R&D investments and among the top destination cities globally for financial services technology investments.”

Alastair Hamilton, CEO of Invest NI, said:

“During 2012/2013 Invest NI secured almost 2,800 Foreign Direct Investment (FDI) jobs with Northern Ireland continuing to be one of the most successful regions in the UK for inward investment.

“Being able to select from a wide range of property solutions is a key factor for potential investors and I am pleased that Titanic Quarter is planning to enhance Belfast’s property mix.”

The CBI Northern Ireland Director, Nigel Smyth, added:

“The announcement of this planning application by Titanic Quarter is strongly welcomed and we hope it can be processed promptly. There is a strategic shortage of high quality office space in Belfast – which will impact on our ability to attract in new international investors and support the growth of indigenous companies.

“It is vitally important for the health of the city that we create the necessary infrastructure to support job growth. The Titanic Quarter has been a great success to date and offers exciting opportunities in the future.”

The new facility will comprise two blocks of six and seven storeys respectively.  Located on the site of a former engineering works, the building when completed will occupy a 0.85-acre site fronting the Queen’s Road between Belfast Metropolitan’s Titanic Quarter Campus and the Public Record Office of Northern Ireland.

The building will be available to let in its entirety or in a variety of configurations to suit the needs of potential occupants.  As with other facilities within Titanic Quarter, the development will have a high environmental specification to meet Titanic Quarter’s commitment to sustainability and to minimise operational running costs.