A £6 million development to build 54 studio apartments next to Belfast city centre's traditional retail district has been officially granted planning approval.
Kirk Bryson & Co, headed by former KFC Tycoon Michael Herbert and his wife Lesley, now has the green light to demolish Westgate House – a four story office building on the corner of Queen Street and Castle Street.
One of the north’s wealthiest couples, the Herberts sold their network of 146 KFC restaurants to a UK group last year for an undisclosed sum.
In 2018, the holding company for their extensive property and fast food businesses, Herbert Corporate Holdings, reported a turnover of £182.8m, with a pre-tax profit of £9.6m.
Located close to Primark’s flagship Belfast store, their latest project will become one of the most central residential schemes in the recent history of the city centre.
Industry monitor CIS Ireland estimates the value of the project at £5.92m.
The proposed structure, adjacent to the former Barney Eastwood gym, includes ground floor retail space.
According to the Future Belfast website, the site was used by the Working Men’s Institute from 1870 to 1915. It was home to Leisureworld Toys & Hobbies from the 1980s to 2008, and more recently has been used by Shopmobility.
Kirk Bryson & Co acquired the site three years ago for an undisclosed sum. At the time the site had been listed for sale with a maximum reserve of £750,000.
It’s one of a series of regeneration schemes planned for Queen Street.
Oakland Holdings recently announced a 25-lease with an operator for a new 175-unit aparthotel earmarked for the site of the Lyndon Court building.
Big Top Productions, headed by former nightclub entrepreneurs Andre Graham and Seamus Sweeney, is planning another hotel in Queen Street’s former police station.
Meanwhile a company owned by Argento boss Pete Boyle is behind plans to develop 50,000 sq ft of office and retail space in the former R Carswell & Son’s printworks building on Queen Street.
McAleer and Rushe is involved in one of the biggest projects in the works, the £54m redevelopment of Norwich Union House, which will stretch from Queen Street to Fountain Street.
