Business

Contractor chosen for first phase of £500m Tribeca Belfast scheme

Farrans Construction has been chosen as the preferred contractor for the first phase of the £500m Tribeca Belfast scheme

A DUNMURRY-based firm has been chosen as the preferred contractor for the first phase of a landmark £500 million Belfast urban regeneration scheme.

Castlebrooke Investments, the company behind the Tribeca Belfast project, has confirmed the appointment of building and civil engineering firm, Farrans Construction for phase one of the scheme.

The major project, controversially rebranded as Tribeca Belfast in November, is set to deliver 1,500,000 sq ft of residential, Grade A office, retail, food and beverage space on a 12 acre site in the north east of the city centre.

Construction on the first phase is set to begin in the coming months and is due to create 1,000 jobs over a two-year period.

The initial programme of works includes the delivery of two Grade A office buildings comprising a total of 180,000 sq ft of space, one of which has been designed to international headquarter office standards. The construction of 24 luxury apartments as well as ground floor retail and food and beverage units also form part of phase one.

Refurbishment work is already underway to preserve the listed Garfield & North building on Lower Garfield Street.

John Wilson, managing director of Farrans, whose previous projects include Victoria Square shopping centre, said they are delighted to be involved in the Belfast regeneration scheme.

"This is an exciting development for us and for Belfast. In recent times, we been active throughout the UK and Ireland but we are keen to establish Tribeca Belfast as a success in our local market," he said.

“We are looking forward to being the delivery partner behind Tribeca Belfast, which will undoubtedly deliver key economic benefit to the city, and bring a wealth of employment opportunities to Farrans and our extended supply chain.”

Neil Young, chief executive of Castlebrooke Investments addded:

“We believe this project will have a hugely positive impact on a part of Belfast that has had little to no investment in recent years, as well as providing a boost to the whole economy through the jobs that will be created locally during the construction phase.

“The development is rooted in the aspirations of the city to become more international and to build on the optimism already apparent in Belfast. Farrans have embraced our regeneration vision and we look forward to seeing the project move forward in early 2019.”

The £500m Tribeca Belfast scheme, formerly known as the Royal Exchange, has previously been met with opposition due to the nature of the proposed redevelopment.

In more recent times however, criticism has been levelled at the Tribeca rebrand, with a Belfast City Council motion opposing the New York-themed name passed by local representatives last week.

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