North East gets the nod
Published: 16 May, 2006
In March Social Development Minister David Hanson MP made the announcement Belfast's property and retail communities had been waiting for. He said: "Following careful consideration of the proposals for the North East Quarter and the North West Quarter I have selected the North East Quarter as the next area for major retail-led regeneration in the city centre."
But while he gave the green light to the 'Royal Exchange' proposal by Leaside Development, a combination of local developers William Ewart, Snoddens and ING, Hanson was careful not to rule out the rival proposal by Westfield for the North West Quarter. He said: "The North West Quarter masterplan remains as my department's vision for the site."
However Westfield will have to wait in line until Royal Exchange is complete before it can progress its own plans to extend the existing Castlecourt centre.
The decision means work could begin on the Royal Exchange site late next year subject to planning permission and other statutory requirements, and the scheme could be open as early as 2011.
The retail-led mixed use scheme has a total floor area of 792,271 sq ft which includes 417,611 sq ft of retail. The masterplan envisages a new department store - rumoured to be earmarked for Brown Thomas - alongside two smaller anchor stores, new retail units targeted at high quality tenants and complementary restaurants, bars, cafes, with 200 apartments and offices at upper level. It will create up to 1,000 jobs during construction and a further 2,000 in retail and leisure when complete.
Royal Exchange will provide a major face-lift for an area of the city centre which, although steeped in history, has been virtually abandoned by developers in recent years.
"The North East Quarter from Royal Avenue to Donegall Street has been characterized by blight and abandonment with historic buildings crumbling from neglect. An area that once contributed to the life of the city centre has deteriorated in physical, social and economic terms" said Hanson.
"Ewart's development proposal for this area envisages a new beginning and a bright future with new shopping, city centre living, office space to attract creative industries and transformation of the Northern Bank at Four Corners as an arts venue. It's time to awaken the potential of these streets and buildings."
== cultural venue ==
A hotel is located between Lower North Street and Church Street and has frontages onto Lower North Street, Church Street and Writers Square. A 700 space, two level, basement car park will sit between Lower North Street and Donegall Street and provide a service area for the hotel, department store and the other retail units.
Cultural accommodation is proposed within the former Northern Bank building, which will incorporate a small theatre, studios, community art gallery along with a small amount of speciality retail.
Ewart's development director Acheson Elliott said the government announcement was recognition of the company's £30m investment in the area over the last decade. "It is fantastic news that we will now get government support to help deliver a comprehensive regeneration scheme for the North East Quarter," he said. "We've put together a local and international team that will deliver a very high quality scheme that will provide a range of economic, social and cultural benefits to Belfast."
And ING's managing director Ben Rainford said "Royal Exchange will revitalise the area with a mix of complementary uses and public squares for the benefit of the whole of Belfast. The scheme importantly integrates the Cathedral Quarter and the other key parts of the city centre together into one linked and vibrant whole."
Royal Exchange will provide the vital link to knit together the Cathedral Quarter, Castle Court and the new Victoria Square by creating a network of vibrant streets and squares.
