Business

Aquarium backers up planned investment to £12m

A digital render of the proposed aquarium
Ryan McAleer

THE company behind a bid to construct a new aquarium in Belfast's Titanic Quarter has increased its planned investment to £12 million.

ReefLive has now formally submitted its planning application for the tourism venture on Queen's Road, next to the Titanic Belfast attraction.

It said that subject to planning approval, it will open the aquarium in the spring of 2021.

ReefLive said it has the potential to attract 300,000 visitors each year.

The company, which originally said it would invest £10m in the project, confirmed yesterday that it will now spend £12m in opening the aquarium.

Set up in April 2018, ReefLive is backed by a number of private equity investors based in England.

In July, Mike Irvine of Belfast-based Cordovan Capital Management (CCM) joined as a director.

CCM manages the Northern Ireland venture capital and private equity investment syndicate Cordovan Capital Partners.

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Business