Dodds unveils £30m Donegall Quay development

A major new development which is set to bring an investment of £30 million to a half-acre site at Donegall Quay in Belfast, was welcomed today by the Minister for Social Development, Nigel Dodds.

The imaginative project, which will bring a new hotel, apartments and commercial office suites to the river’s edge, was confirmed when Laganside announced a development agreement has been reached with commercial partners.

A new company, called Donegall Quay Limited, has prepared plans for a seven-storey building linked to an 18-storey tower that, together, will provide 250,000 square feet of floor space. This will comprise a four-star hotel, commercial office suites, specialist shopping units and restaurants, as well as 130 high standard apartments.

Speaking at today’s event, the Minister said: “The development proposal is evidence of continued private sector confidence in the Laganside Initiative and in Belfast City Centre. The importance of Laganside developments in contributing to the economic growth of Belfast, particularly in terms of jobs and economic opportunity, cannot be overstated.

“We have seen investment in and around the Laganside area totaling more than £730m and more than 10,000 people now have jobs within the area, a figure which will rise to over 16,000 by 2005.

“My Department, which has provided the bulk of the funds for these developments, remains supportive of the Laganside Corporation and is encouraged by its progress."

Although just a half acre in size, the site has great historical significance. Donegall Quay is closely linked to the origins of Belfast, largely due to its proximity to the River Farset, and was an actively working commercial quay right up to the 1980’s.

It is perhaps best known as the quay where the emigrant boats of the 1850’s and subsequently the Liverpool, Heysham and Ardrossan ferries once tied up.

Donegall Quay was earmarked for a key role in the development of Laganside. Negotiations for one of Belfast’s most ambitious new projects have now been completed with Donegall Quay Limited, a company specially established to undertake the venture and incorporating Karl Properties Limited, in partnership with Mar Properties and Greenfarm Developments.

(MB)