BUILD-T0-RENT APARTMENT SCHEME PLANNED ON A PRIME BELFAST CITY CENTRE SITE
Leading property development company, South Bank Square, has revealed plans for a £45 million investment that will see the construction of circa 210 new apartments on a prime site in Belfast City Centre.
The development, which is to be known as ‘The Grattan’, will be situated on the existing Fanum House site on Great Victoria Street. This proposed project represents a significant investment of £45million, at a time when the city centre is suffering from the debilitating impact of Covid-19. ‘The Grattan’ promises to breathe new life into this area on the southern edge of the city centre, which was at one time referred to as ‘The Golden Mile’.
‘The Grattan’ is perfectly located for sustainable city centre living, due to its close proximity to key transport hubs, universities, hospitals, shopping district and entertainment venues. It is envisaged that this development will form part of the emerging Build-to-Rent Sector, offering secure, long-term tenancies to residents in a professionally managed apartment complex.
As well as apartments, ‘The Grattan’ will also see the construction of a ground floor commercial unit, resident’s lounge and social hub, business suites and fitness facilities, roof terraces and gardens, and public realm improvements to the front of the site. During the construction phase, the development will create up to 350 construction jobs and apprenticeships, with the economic impact set to positively benefit local suppliers. Furthermore, ‘The Grattan’ will provide up to 40 full and part-time jobs post completion.
The Pre-Application Community Consultation process for ‘The Grattan’ will begin in the New Year (2021), with plans to be submitted to Belfast City Council soon after.
South Bank Square are a Residential and Commercial Property Development Company, with over 20 years’ experience in the local property market, delivering high quality residential, commercial and leisure developments.
Martin Mallon, Development Manager at South Bank Square said:
“This is a very exciting development located on a key gateway site in the City Centre. We believe this significant high-profile development offers an opportunity to help address the current widespread dereliction along Great Victoria Street, and will act as a catalyst for the renaissance of this very important part of the City Centre.”
“We are conscious that Belfast City Council has prioritised city centre living as one of their key outcomes in the Belfast Agenda, with the aim of growing the population of the city by 66,000 new residents by 2035. We believe that ‘The Grattan’ offers a fantastic opportunity to help deliver this objective of a sustainable and well-connected residential community in the City Centre.”
“The build-to-rent sector has proven very popular in many other cities across the UK and Ireland, offering secure, long term lets within well designed and professionally managed modern apartment schemes. ‘The Grattan’ will offer residents a dedicated lounge area, fitness suites, workspaces, communal terraces, and roof gardens with panoramic views across the city centre. The development represents a fantastic opportunity to regenerate this key site, and to help shape the future of the city.”
He added: “This year has been extremely challenging for the vitality and viability of the city centre, therefore it is crucial that we start to drive momentum with key landmark projects such as ‘The Grattan’ in order to rejuvenate the city.”
“We will reveal further details about our planning consultation process in the coming weeks and we look forward to welcoming feedback from interested parties.”