A time for resilience Belfast Crane Survey February 2019
Contents
Contents 01 The report 02 Key findings 03 Belfast development snapshot 04 1. Residential 06 2. Office 08 3. Retail, Hotel and Leisure 10 4. Education and Student Accommodation 12 5. Outlook 13 Development map 14 Development table 15 Endnotes 22 Contacts 23 Notes 24 A time for resilience | Belfast Crane Survey February 2019
The report
What? A report that measures the volume of development taking place across central Belfast and its impact. Property types include residential, office, leisure, hotels, retail, student accommodation and education.
Where? The City Core, Waterfront, Titanic Quarter, Transport Hub, Inner North, Linen Quarter and Southern Fringe.
Who? Developers building new schemes or undertaking substantial refurbishments of the following: Size minimum = office 10,000 sq ft, retail 10,000 sq ft, residential 25 units, education, leisure and hotel schemes – significant scheme for inclusion.
When? The report covers the period from 1st January 2018 and 31st December 2018. Our research for the Crane Survey was undertaken between 15th August 2018 and 31st December 2018.
How? Research for this report was undertaken by Deloitte’s Northern Ireland team based in Belfast. The Deloitte Real Estate team have also been closely involved in the development of Belfast over recent years. In addition to our in-house knowledge and field research we have used a variety of sources to collate and validate our research. These sources include the Northern Ireland Planning Portal, local media and trade publications, and construction and development industry contacts.
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Key findings
Crane Survey 2018 Results Outlook
The absence of a functioning Executive and Assembly Although political uncertainty remains, the Belfast since January 2017 and difficult ongoingBrexit Region City Deal with Westminster sets a more positive negotiations have created an uncertain political tone, securing £350 million to support value adding context. infrastructure projects over the coming years.
Over 400,000 sq ft of new office space started in Activity is ongoing in relation to Belfast’s Local Belfast during 2018. Development Plan. This will set out a vision of how the council area should develop with a 15 year framework aimed at place shaping opposed to simply land use.
Approximately 290,000 sq ft of office space was Ambitious landmark developments due to start in 2019 completed in 2018 across five schemes. include Belfast Waterside (the former Sirocco Works) and the £500m mixed use development by Castlebrook Investment.
Construction began on 200 new hotel rooms during Tourism continues to grow, with unprecedented 2018. This comes on the back of over 1,200 additional numbers of people visiting Belfast. This will likely hotel rooms completed in 2018. encourage further development in the hotel and leisure sectors.
Two new student accommodation blocks Queen’s University Belfast and Ulster University will commenced construction, containing over continue to develop their estates through capital 750 rooms. investment programmes.
Retail development remains muted. The Primark The retail sector should start to pick up following the extension on Castle Street was completed, but this completion of the Primark extension and reopening of was overshadowed by the fire in the original Bank the surrounding businesses. Buildings store.
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Belfast development snapshot
Total number of schemes Which sectors are the most active completed or under construction in-year Under construction 2018 40 35 5 Office 30 30 30 3 Residential 20
10 2 Student 2 Education 0 2016 2017 2018 1 Hotel 1 Retail
Completions 2018
5 Office
4 Student
1 Education 10 Hotel 1 Retail
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New start construction volumes by category for 2017 and 2018 Office floorspace under construction
2017 new starts 2018 new starts Office refurbishments 160 Number of hotel rooms 224 Number of hotel rooms 247,569 sq ft (41%) 124 Number of residential units 0 Number of residential units
194,787 Sq ft of office space 414,502 Sq ft of office space
0 Student accommodation units 761 Student accommodation units New builds 363,000 sq ft Sq ft of education facilities 0 Sq ft of education facilities 15,000 (59%)
0 Sq ft of retail space 92,800 Sq ft of retail space
Completed 2018
Hotel rooms Office space Education facilities 1,249 293,098 sq ft 120,000 sq ft
Residential units Student accommodation Retail floorspace bedspaces 0 2,029 48,500 sq ft
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1. Residential
Since the first Belfast Crane Survey in 2017, we have reported The student population has continued to increase in line with low residential development figures in the city centre, a trend patterns across UK regional cities, it is projected that as graduates consistent with the subdued activity over the last decade. and students move into the workplace, they will continue to live centrally, assuming that suitable stock is available at an appropriate Despite this, growing the city centre population remains a priority. price. The Belfast Agenda, published in 2017, sets an ambitious target of increasing the residential population of Belfast by 70,000 people Despite this, there were no new residential starts in 2018, before 2035.1 This will be a prime indicator of success for the compared with two new starts in last year’s report for 2017 city moving forward. It relies on the expectation that as jobs and activity. Anecdotally issues of density and height restrictions have investment flow into Belfast, employees will seek housing in the city been raised as challenges for developers seeking funding. While centre. these are likely to be part of the rationale, the limited activity demonstrates that residential development remains challenging. The steady flow of new jobs into the city centre, an improving international image and status, and enabling projects such as the Three schemes remain under construction across the city and are Glider (the Belfast Rapid Transit system introduced in Autumn due to deliver 180 units. These are: 2018), have contributed to conditions which have seen the number of residential developments in the city increase, albeit slowly. •• The Sandford; a 56 unit development, due to be completed in Q2 2019. Serviced apartment management company, Dream Apartments, has pre-purchased 30 units in the building
Residential units under construction •• Portland 88; a £17 million investment comprising 88 units on the Ormeau Road by Bristol based Barnett Developments. Completion is due by Q4 2018
•• 14-18 Montgomery Street; A 36 unit apartment building including a bar and private gym, developed by Villages Homes Ltd and due 180 2018 for completion in Q1 2019. It is understood that the building will be named FX Montgomery Street. 56 2016
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Until the completion of The Gallery (58 units, Dublin Road) in 2017, there had been no residential completions of new apartment blocks containing over 50 units since 2012, the last being The Arc in the Titanic Quarter. In this context, the sector has sustained modest activity, with four residential developments – totalling 236 units – starting and completed, or due to be completed from 2016-2019.
Looking ahead initiatives such as the Glider transport investment to improve transportation in the city and employment growth supports the pipeline for new starts in Belfast’s residential sector. Major schemes include:
•• The £12 million ‘build-to-rent’ scheme proposed by Lacuna Developments and Watkins Jones is due to commence on-site early in Q1 2019
•• Belfast Waterside; A major scheme for part of the former Sirocco Works site is currently in the planning process and could deliver 400 units. It is part of a wider masterplan for the area which will include 800 units in total, a scale that could transform the quantum of residential delivery in the city centre in the next few years and help create a new residential area in the city.
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2. Office
There were two new starts in 2018 which will deliver 414,502 Office floorspace completions sq ft of new office space. While this is a reduction in new starts compared to 2017 activity, these new starts will provide in excess 293,098 of double the floor space provided by the four starts in 2017 sq ft (194,787 sq ft of new office space). This indicates that businesses 286,000 are requiring more floor space to accommodate their growing sq ft workforces.
The two schemes to commence in 2018 were:
•• Bedford Square; An £85 million development project, has recently been announced as the new location for Deloitte in Northern Ireland. This 213,000 sq ft office development includes a modern new office building which will be linked to the refurbished and extended Ewart building on Bedford Street. Deloitte will be taking up to 100,000 sq ft of space to accommodate 1,000 staff with the option to increase space to accommodate up to 1,250. The development is expected to be open in 2021
•• Merchant Square; A 201,502 sq ft, £70 million office scheme developed by Oakland (FRO) Ltd which commenced in Q2 2018. In November, PwC announced that their Belfast operations would be relocating here on its completion in Q2 2020.
2017 2018
In total, just over 900,000 sq ft of office space was either completed or under construction across the city in 2018. There was almost 300,000 sq ft of office space completed in 2018, across a total of five developments. The one new build completion is the Allstate NI HQ scheme.
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There has been a significant amount of investment to refurbish and New jobs have also been announced by US cybersecurity firm modernise existing office space or historic buildings. Four of the Imperva, currently situated on Arthur Street, announcing 220 completions in 2018 fall within this category and constitute some of new jobs. In the legal and financial sectors, locally based FinTru the major deals. announced that it will create 300 new jobs, while EY and Grant Thornton announced that they will be creating 95 and 48 new jobs •• River House; the redevelopment of an existing 14-storey office respectively. European legal firm Fieldfisher plan to create 125 new building to create 80,000 sq ft of office space. Funded by London- roles over the next three years. The sustained job announcements based Castleforge Partners, the scheme completed in Q2 2018 in IT and the Professional Services sector in Belfast highlights that, going forward, there will be a continued need for new Grade A •• Weaving Works, Ormeau Avenue; Completing in Q1 2018, this office space. scheme provides 24,500 sq ft and is let to First Derivatives and their subsidiary, Market Resource Partners Looking forward, there are a number of major developments in the pipeline. These include Olympic House, a proposed project in •• Flax House, The Linen Quarter; The redevelopment of this the Titanic Quarter which is a joint investment by Belfast Harbour building completed Q1 2018, providing 28,500 sq ft of renovated and Titanic Quarter Ltd. They expect to begin construction office space on a third office block in the City Quays complex in 2019. At 250,000 sq ft City Quays 3 will be one of the largest Grade A •• Artola House, Victoria Street; Stargime have restored and office developments to be built in Northern Ireland supporting redeveloped a five storey former linen warehouse to create demand from international investors. Also adjacent to the River 20,000 sq ft of modern office space. Lagan, Belfast Waterside (formerly Sirocco Works), is set to start work on their £400m regeneration project at the start of 2019. In addition to the above, there were a number of projects that did Plans continue to convert the former Belfast Telegraph Building, not meet our threshold for inclusion in development statistics (with re-named ‘The Sixth’ into Grade A office space. This will be the first respect to the degree and significance of refurbishment undertaken, joint venture with a private sector developer, Belfast City Council and the creation of ‘new’ floor space) but which improved existing joining with Co Tyrone firm McAleer & Rushe. Furthermore, the office stock in the city. One of the largest of these is Nine Lanyon Place £500 million Tribeca project is a mixed use space which will include – Allstate NI’s former home on Lanyon Place which was subject to an 1,500,000 sq ft of residential space, office units as well as retail and £8m refurbishment and rebranding project. The Northern Ireland Civil hospitality elements. The scheme, is set to commence early 2019 Service have signed up to occupy over 150,000 sq ft of floor space. and conclude in 2021.
Belfast has remained resilient in spite of ongoing political The BBC has announced a £77 million investment creating a uncertainty in the absence of Government at Stormont and technologically advanced broadcasting centre in its current ongoing negotiations on Brexit. Investment announcements have premises in the Linen Quarter, retaining its long heritage in continued. IT firm Novosco, based in the Titanic Quarter, has Broadcasting House on Ormeau Avenue, Belfast. committed to the creation of 150 jobs.
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3. Retail, Hotel and Leisure
Belfast’s tourism success story continued into 2018, with growth in visitor numbers and spend. Reflective of this sector’s strength, there has been a surge of hotel developments in recent years within the city centre.
2018 has been a banner year for the hospitality industry; there •• The George Best Hotel, Donegall Square South; This £15 million have been ten hotel completions last year – a remarkable figure, investment by Liverpool-based Signature Living Group will and the yield of several years of development and investment by redevelop the former Scottish Amicable Building to create a both the public and private sector to put Belfast on the map as a 63-bed hotel themed on the life of perhaps Belfast’s most business and weekend destination. famous sporting personality.
Four hotels which completed in 2018 contain over 150 beds; the 188 bedroom AC Marriott Hotel on Donegall Quay, the 179 bedroom Hampton by Hilton hotel on Hope Street, the 206 bedroom Maldron Hotel on Brunswick Street, and, largest of all, the 300 bedroom Grand Central Hotel on Bedford Street. 98 1,249 hotel beds completed 2016 hotel beds completed 2018 Outside of our survey area, the Crowne Plaza hotel in the south of Belfast is undergoing a £3.3 million refurbishment, with the These completions have added over 1,200 new rooms to the addition of 13 new rooms – demonstrating that investment in the Belfast hotel market – meaning that by the conclusion of 2018 there sector is not limited to the city centre. were almost 25% more hotel rooms available in Belfast than were available at the conclusion of 2017 (according to NISRA figures).2 In addition to the volume, the variety of new hotel stock entering the Belfast market is notable. 2018 saw the diversification of Four hotel developments started on site during 2018; two of which Belfast’s hotel offering; from the budget accommodation opening were extensions to existing hotels; and two of which were the at Belfast’s first easyHotel; new luxury offerings at Grand Central; redevelopment of existing buildings in the city centre. New starts in serviced apartments being developed at The Flint Hotel, and 2018 included: expansions to the existing boutique offering at Ten Square and Bullitt. This could be seen as a sign that the hotel offering in Belfast •• The easyHotel, Howard Street; The 81-bed easyHotel is situated is beginning to reach a new level of maturity, indicating confidence in the Howard Buildings, above a row of retail units, and is the in catering to a range of visitors. first hotel from the easyHotel brand to be opened in Northern Ireland – representing a £5 million investment
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Figures published by the Northern Ireland Hotels Federation catering industry alone).4 A reality is that skills shortages are a more suggested some softening through 2018 – reporting a 3% drop in likely short term constraint in capitalising on further growth in hotel occupancy between summer 2017 and summer 2018.3 visitor numbers, rather than the number of available hotel rooms. Given that over 1,200 new hotel rooms will have opened to the market this year – an approximate 25% increase in just one year In the leisure sector the Titanic Walkway and Great Light compared with the total 3,400 hotel room stock that existed in the installation was completed in Q1 2018, representing a unique piece city in 2017 – the relatively small fall in occupancy rates indicates a of heritage for visitors to the Titanic Quarter to enjoy. healthy visitor market. 2018 proved to be a turbulent year for the retail sector in Belfast, There has also been significant investment in tourism precipitated by the disruption caused in the aftermath of a infrastructure through 2018. £15 million has been invested into a significant fire at the historic Bank Buildings – home to Primark – refit of Belfast City Airport, while permission has been granted for in August. The blaze also forced the closure of surrounding shops, the development of a £5 million new Premier Inn hotel beside the while other nearby businesses were badly affected by the reported International Airport. There was another record breaking year for fall in footfall in the city centre. The fire occurred just weeks before cruise ship visitors in 2018 – with over 185,000 visitors – and the the scheduled opening of a 48,500 sq ft expansion of the existing proposed development of a dedicated cruise ship terminal for the Primark premises into the former Commonwealth House, located city should happen in the near term. on Castle Street. Fortunately the expansion was saved and work is under way to preserve and eventually restore the Bank Buildings. Other large hotel schemes are still emerging. Perhaps the most In the interim it has been possible for Primark to recommence notable of these – while outside of the city centre – is the proposed trading from the newly developed site. It is in these circumstances redevelopment of the Crumlin Road Courthouse. Signature that the redevelopment of Commonwealth House was the sole Living have received planning approval to convert the building retail completion in Belfast through 2018. into a 77-bedroom hotel, representing a £10 million investment. Signature Living have also submitted plans to develop the Waring Disruption following the fire has been blamed for a short term Hotel. Proposals to redevelop the old War Memorial building into a fall in footfall through Belfast city centre in the months following hotel has been floated previously, and the new 43-room scheme is however there is cause for optimism looking forward. Work is branded as a ‘party hotel’ in line with the successful brand created planned to commence in early 2019 to refurbish Castlecourt by the Group in Liverpool. shopping centre, and there are also plans to redevelop the former BHS site in the city into two new retail units. In the longer run, Hospitality skills are in high demand. Efforts to fill skills gaps are Castlebrooke Investments have announced their plans for the helping, for example through a Hotel Employment Academy, and £500m Tribeca redevelopment project which will create new retail, an increasing number of graduates completing hospitality related leisure and restaurant space. degrees. With that being said the number of people employed in the Tourism & Leisure sector in Northern Ireland increased by over 10,000 between June 2013 and June 2018 (and over 8,000 in the
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4. Education and Student Accommodation
Following a wave of purpose built student accommodation (PBSA) •• Student Roost, Great Patrick Street; Close to the UU campus, this schemes in recent years, two further PBSA schemes started on site Olympian Homes scheme delivered 474 beds in an eleven storey in 2018. The new starts will deliver 761 beds and are large scale building. developments. In Q1 2018, work started on the 407 bed, five storey scheme on 123 York Street developed by a London based Work restarted on the Ulster University Belfast phase 2 campus in company, York Street (No.1) Ltd. Close by, a 354 bedroom scheme June following a four month construction pause. The 720,000 sq ft is being constructed at Little Patrick Street as part of a joint venture campus will house 15,000 students and staff who are currently based between Watkin Jones Group and Lacuna Developments. in the Jordanstown campus. The campus has added a fifth crane to the site following the completion of levels 2, 3 and 4 in 2018. Student accommodation bedspaces completed Queen’s University Belfast (QUB) seek to increase their international student population from 8% to 20% by 2021. In order to accommodate this they will continue through their £700 million capital investment programme through 2018 including alterations and extensions to the McClay Library, conservation and restoration work to the Lanyon Building and refurbishment of student accommodation at Elms Village. The most significant education sector completion in 2018 was the QUB’s School of Biological Sciences. This £39 million investment project, also housing The Institute of Global Food Security, comprises 120,179 sq ft of floor 6 2,029 space over five levels, providing purpose built space for teaching, (2017) (2018) research, offices, study areas and laboratories.
Four PBSA schemes completed in 2018, delivering of 2,014 Looking forward, work will continue on the Ulster University bed spaces. These include: Belfast phase 2 campus through 2019 and QUB are in the process of reviewing their Estates Strategy which will cover the next ten •• 1,238 of these units were developed by Queen’s University Belfast years (2019-2029). This includes the redevelopment of the former as part of their £700 million capital development programme. Both Students’ Union building which is due to commence Q4 2019. Elms BT1 at College Avenue and Elms BT2 at McClintock Street Also planned to commence Q4 2019 is a 32,000 sq ft extension completed and opened ahead of the 2018/19 academic year of the Institute of Electronics, Communications and Information Technology (ECIT) building. •• Swanston Hall; This Watkin Jones Group / Lacuna Developments scheme includes 114 studios and 203 cluster rooms (317 total)
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5. Outlook
With 2019 likely to see continued economic and political uncertainty, the city will need to demonstrate resilience.
As a result of the collapsed Executive, it is estimated that £2 limited new developments in the city centre, however this is in line billion worth of infrastructure projects have been put on hold, with other UK cities and reflects an ongoing trend. with media reports suggesting that this could include the Belfast Transport Hub.5 The fire has potentially accelerated the discussion on retail resilience within a city centre accommodating a wider range of business, It is unclear how this will impact the city going forward, but a further cultural, educational, residential and leisure uses. period of uncertainty lies ahead. Nevertheless, the Belfast Region City Deal secured a £350 million investment from Treasury in Q4 2018. The residential market continued to see only limited growth in 2018. Business plans are currently under way for the proposed projects We expect to see a number of new residential schemes promoted which hopes to create up to 20,000 new jobs alongside delivering a in 2019. A critical challenge will be funding, if it can be found then we ten year programme of inclusive economic growth. would forecast an increase in the residential pipeline during 2019.
The 2019 Belfast Crane Survey captures the ongoing evolution in Landmark projects such as developments on Sirocco Quays and development patterns in Belfast. In 2018 we saw the completion Castlebrooke Investment’s Cathedral Quarter project continue to of several student accommodation – many of which commenced move through the planning stages and we also expect to see The during a surge in 2016 and early 2017. This will considerably impact Sixth site to make headlines in 2019, which was announced late 2017 on Belfast. The completion of new student accommodation is good and is set to commence in 2019. news, it widens the higher education offer, increases the city centre living population, as well as supporting new investment in previously The era of student accommodation developments is not yet over in neglected parts of the city centre. the city, with a couple of new starts in 2018 and potentially more to come. The Ulster University Belfast campus development continues, Belfast performed well with respect to office development in while QUB have significant developments relating to the Students’ 2018 with two large developments under way, and is making good Union and Institute of Electronics, Communications and Information progress against the Belfast Agenda target of 1.5 million sq ft of new Technology (ECIT) to look forward to. space by 2021. It may be appropriate to increase the target as the potential to deliver more certainly exists. New occupier deals in 2019 Other notable projects in the pipeline include the Transport Hub, would instil further confidence in the market and might alleviate which is comprised of a new station, taxi ranks and integrated some of the fears around Brexit. 2019 will be a real test in that regard. cycling and pedestrian facilities.6 Furthermore, Destination Hub is a proposed visitor experience that will include a large scale visitor The Belfast retail sector was a focal point in 2018 with a decline in attraction, exhibition space and cafés, restaurants and retail outlets.7 footfall as a result of the Bank Buildings fire. There has also been
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Development map
Cityside Retail d & Leisure Park a Titanic Belfast o A12 R s n e e u Q
2 1 A ill H 29 F k red ic e r rick r St 2 Ca M 18 2 3
Shan 27 River Lagan kill Road SSE Arena Belfast N A ort 2 h St
t N A 3 S M 6 M orth 2 3 2 m t V S Titanic Quarter a S i Gre h g B1 s t c in t ar o W r Castle Court 11 i a
Shopping Centre S nd ge E t t Brid 01 S Ne R 12 w A5 A gh A2 town 50 o i a 1 5 H n St rds R y An d C a 3 t C astle 1 20 St l 2 S d o A A oa k Ln R l v
ls c l le
l a e t 6 e r s
Fa g Ca River Lagan
r e V a 10 i O
A c A23 B Victoria Square t x v
k o f e n o i r 1 3 i l r a B t St er d chest hi s A1 C 5 S
Pl e B lington S Wel t 0 t W 1 6 2 Belfast City Hall 6 13 24 May St A1 venor Rd 9 East St Alber Gros 2 15 East Bridge St tbrid Grand 23 14 ge Rd
B38 Opera 19 t
Belfast Great House S Central B
A
Victoria Street 4 t 5 1 Ulster 1 2 r 0
1 6 station Europa 22Hall a A d 4 R 2 w Hotel n i A e River Lagan 21 l S t S b 35 a B u n r O 33 M uc D rm cA
d e St ea ule t y u A y S
25 t v
R e
o S w e l l i
A v A
Linfield Industrial 1 y 1 2 Emb B A 4 au an Estate e km 5 Mar rm e 0
n 6 O t
ass O egall P Don r 34 m
e River Lagan ll Rd a Donega u
d R Donegall R Botanic d City Hospital
d
R Belfast City Hospital y t i
s 31 1 r A e v i
n
U Under construction Completed 30 32
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Development table
No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
City Core
1 Bedford Square Phase Bedford Street Office, Retail 213,000 Q4 2018 Q4 2021 A 213,000 sq ft Grade A office building. Piling has 2, Belfast, BT2 7GP Enterprises commenced on site – £85 million investment to (McAleer & develop 213,000 sq ft of Grade A office space. Rushe) Includes a new office building which will be linked to the refurbished and extended Ewart building on Bedford Street, a prime city centre location which has been unoccupied for some time.
2 Grand Central Hotel, Hastings Hotel Hotel 300 Q3 2016 Q2 2018 Part demolition and rebuild of the former Windsor 9 - 15 Bedford Street, Group House, a 24 storey office building on Bedford Belfast, BT2 7EG Street. Originally constructed in 1975, Windsor House is over 80 metres tall and 122,000 sq ft in size. It was at one time the tallest commercial building in Ireland. The re-developed building will include 1 or 2 retail units and approximately 2,500 sq ft of office space and 300 hotel rooms.
3 Elms BT1 at College Queen’s Student 762 Q3 2016 Q3 2018 The development of managed student Avenue University Accommodation accommodation including 762 standard bedrooms 78 College Avenue, and studio rooms. The development will also Belfast, BT1 6BU include ground floor retail space, as well as student welfare facilities and an enclosed car park. McAleer & Rushe announced in February 2016 that the site would be developed as part of a £70m agreement with Queen’s University that also includes a second student accommodation scheme at McClintock Street.
4 Elms BT2 at McClintock Queen’s Student 476 Q3 2016 Q3 2018 Development of a new-build 16 storey student Street, McClintock University Accommodation accommodation development, adjacent to the Street, Belfast, BT2 Maldron Hotel, under construction on Brunswick 7GE Street.
Red text denotes new starts since last Crane Survey.
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No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
5 Primark Extension, Primark Stores Retail 48,500 Q4 2016 Q4 2018 A £30m redevelopment scheme by Primark Stores 1 - 43 Castle Street, Ltd Ltd and WDR & RT Taggart that comprises the Belfast, BT1 1BL demolition of Commonwealth House (29 – 43 Castle Street) and development of a new six-storey retail building providing an extension to Bank Buildings, which will be refurbished and connect into the new building. The completed scheme will comprise c. 48,500 sq ft retail store for Primark.
6 Swanston Hall, Watkin Jones Student 317 Q4 2016 Q3 2018 The development includes the retention of 41 - 49 Queen Street, Group / Lacuna Accommodation the existing facades of the former redbrick Belfast, BT1 6HL Developments warehouse. The scheme comprises 114 studios and 203 cluster rooms (317 total) with a ground floor retail unit and ancillary space.
7 Chichester House, Causeway Asset Office 46,067 Q4 2017 Q3 2019 £8 million investment by Causeway Asset 21 - 27 Chichester Management Management to partially demolish and redevelop Street, Belfast, BT1 4JB the existing building on Chichester Street. The development will also include 5,000 sq ft of ground floor retail space.
8 Erskine House, Orby Office 110,000 Q4 2017 Q4 2019 Development by Orby Investment Ltd to construct 20 - 32 Chichester Investment Ltd an eight storey office building with ground floor Street, Belfast, retail space. The building has been pre-let on a 25- BT1 4GF year lease to HM Revenue & Customs, with c.1,600 employees expected to move into the space by late 2019.
9 11 Donegall Square Kilmona Hotel 66 2017 Q1 2018 Redevelopment of the previous Scottish Amicable South, Belfast, Property Ltd office building to form a 66 bedroom extension to BT1 5JE the existing Ten Square Hotel.
10 Artola House, Stargime Office 20,000 Q1 2017 Q4 2018 Redevelopment of a former 1870s linen 91 - 97 Victoria Street, warehouse into a modern Grade A office space Belfast, BT1 3GL while retaining some of the original façade.
Red text denotes new starts since last Crane Survey.
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No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
11 River House, Castleforge Office 80,000 Q4 2016 Q2 2018 Re-development of an existing fourteen-storey 48 -60 High Street, Partners office building with five ground floor commercial Belfast, BT1 2BE units. The extensive refit is due for completion in Q2 2018
12 Bullitt Hotel Cathedral Hotel 31 2017 Q1 2018 A 31 bedroom expansion to the Bullitt Hotel. Expansion, Leisure Ltd. 79-81 Victoria Street, (Beannchlor BT2 7AF Group)
13 14 - 18 Montgomery Village Homes Residential 36 Q4 2017 Q1 2019 Demolition of existing building and erection of a Street, Belfast, NI new multi-storey apartment building containing BT1 4NX 36 one bedroom units and ground floor retail space.
14 easyHotel, Howard easyHotel Hotel 81 Q1 2018 Q3 2018 A four-storey building built around 1820 at the Buildings, 24 - 40 corner of Howard Street and Brunswick Street to Howard Street, Belfast, accommodate a number of linen businesses. The BT1 6PA planning for the hotel was approved in May 2017.
McCusker Demolition commenced strip-out works in March 2017. The hotel now operates via a franchise agreement as an easyHotel.
15 George Best Hotel, Signature Living Hotel 63 Q1 2018 Q1 2019 A £15 million investment by Liverpool-based 15 - 16 Donegall Square developer Signature Living which will transform South, Belfast, BT1 6JH the six-storey, Grade B1 listed Scottish Mutual Building in a 63 bedroom hotel themed on the life of footballer George Best. The Scottish Mutual Building was originally constructed in the early 20th century and most recently was the premises for Nationwide Building Society, who have now vacated.
Red text denotes new starts since last Crane Survey.
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No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
16 Merchant Square, Oakland (FRO) Office 201,502 Q2 2018 Q2 2020 Merchant Square is a £70m office scheme 12 - 26 Wellington Ltd comprising the redevelopment of existing Place, Belfast, buildings (Oyster and Royston House) by creating BT1 6GE two additional floors, extending into the rear courtyard and installing a new glass and steel facade. The completed scheme will comprise eight floors (201,500 sq ft) of office accommodation. This scheme received a £20m loan from the NI Investment Fund.
17 13 - 25 Castle Lane, M&G Real Retail 92,800 2018 2019 British Home Stores occupied the buildings above Belfast, BT1 5HX Estate until closing on Sunday 28th August 2016.
M & G Real Estate and Todd Architects submitted a planning application in November 2017 proposing refurbishment and reconfiguration of the former BHS buildings including installation of new external fabric, new entrances, shopfronts, and service access and services connections.
Waterfront
18 AC Hotel by Marriott, Belfast Harbour Hotel 188 Q3 2016 Q2 2018 Development of a four star, nine storey, Donegall Quay, waterfront hotel on land which is adjacent to City Quays, Belfast, Donegall Quay. The hotel will include a signature BT1 3AT bar and restaurant, a gym, and meeting facilities.
19 Allstate NI HQ, Allstate NI Office 140,000 Q1 2016 Q2 2018 A six-storey office building, adjacent to the former East Bridge Street, Maysfield Leisure Centre. Belfast, BT1 3DB
Titanic Quarter
20 The Sandford, Property Residential 56 Q3 2016 Q2 2019 A seven-storey residential development, including 35 - 55 Bridge End, Frontiers basement parking, containing a mix of one and Belfast, BT5 4BG two bed apartments. First released to the market in 2014, construction is now fully underway and scheduled for completion in March 2018.
Red text denotes new starts since last Crane Survey.
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No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
Transport Hub
21 Hampton by Hilton Andras House Hotel 179 Q3 2016 Q2 2018 Development of Belfast’s first Hampton by Hilton Hotel, 7 - 13 Hope hotel. The development will include 179 rooms Street, Belfast, with a restaurant upon completion. BT2 7BB
22 Maldron Hotel, McAleer & Hotel 206 Q3 2016 Q1 2018 A £21 million investment by Dalata Hotel Group 14 Brunswick Street, Rushe to build a new 14-storey hotel on the former site Belfast, BT2 7GE of Belfast Metropolitan College. The old college building has been demolished, and construction of the hotel structure is due to be completed by early 2018.
23 The Flint Hotel, Martin Group Hotel 55 Q4 2016 Q2 2018 Howard House is an existing 7-storey building; Howard House, floors 1 through 6 previously accommodated 48 Howard Street, offices with retail units on the ground floor. Belfast, BT1 6PG Redevelopment work has stripped out the previous office space on upper floors with space repurposed to create 55 serviced short-stay apartments.
24 Jurys Inn Belfast, M & R Estates Hotel 80 Q1 2018 Q4 2018 Expansion adding 80 new rooms to the existing Great Victoria St, Ltd Jury’s Inn Hotel on Great Victoria Street. This Belfast BT1 6DY extension follows a £2 million refurbishment of the existing hotel rooms which was completed in late 2017.
25 Weaver’s Court, Linfield Office 40,000 Q1 2017 Q1 2019 A four storey 40,000 sq ft office building designed Linfield Road, Properties Ltd by Doherty Architects for Linfield Properties Ltd. Northern Ireland, Dixon Contractors commenced construction in BT12 5GH November 2017 and completion is scheduled for January 2019.
Red text denotes new starts since last Crane Survey.
19 A time for resilience | Belfast Crane Survey February 2019
No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
Inner North
26 Ulster University Ulster Education 720,000 Q3 2015 To be £250 million investment in the development of Belfast Campus, University confirmed an expanded Ulster University Belfast campus Phase 2, York Street, to accommodate the relocation of facilities from BT15 1ED Jordanstown.
While there is no formal confirmation of timelines it is understood there will be a phased completion and occupation of the first block within the next two years and the larger second block following this. The timetable for moving in is part determined by the academic calendar.
27 28 - 30 Great Patrick Olympian Student 474 Q4 2016 Q3 2018 An eleven-storey building comprising a retail unit Street, Belfast, BT1 2LT Homes Accommodation and café at ground floor level and 474 managed student rooms.
28 26 - 44 Little Patrick Watkin Jones Student 354 Q2 2018 Q3 2019 Under construction, some ground work has been Street, Belfast, Group / Lacuna Accommodation done. BT15 1BA Developments, Rolloz LLP
29 123 - 127 York Street, York Street Student 407 Q1 2018 Q3 2019 Under construction, builders on site suggest that Belfast, BT15 1AS (No.1) Ltd Accommodation it could be completed by Easter 2019.
Red text denotes new starts since last Crane Survey.
20 A time for resilience | Belfast Crane Survey February 2019
No. Name/Address Developer Main Use Total size Start Completion Comments (sq ft/units) date date
Southern Fringe
30 School of Biological Queen’s Education 120,000 Q2 2015 Q2 2018 A four-storey building being constructed on Sciences, 15 Chlorine University the site of the old QUB science library. The Gardens, Belfast, construction also includes landscaping of the BT9 5AH surrounding public realm.
31 Holiday Inn Express Andras House Hotel 63 Q1 2017 Q2 2018 A c.£5 million investment to create a 63 bedroom extension, 106 extension and refurbish public areas of the University Street, Holiday Inn Express, bringing the total room count Belfast, BT7 1HP to 171. MSM commenced construction in February 2017 and will complete in May 2018.
32 McClay Library, Queen’s Education 15,000 Q2 2018 Q4 2019 Alteration and extension of McClay Library to 10 College Park University increase provision of group study rooms and Avenue, Belfast, computer / reader spaces. A £9.45m investment BT7 1LP which is currently in the design phase.
Linen Quarter
33 The Weaving Works, Karl Asset Office 24,500 Q1 2017 Q1 2018 A £6 million investment by Karl Asset Management 11 Ormeau Avenue, Management to redevelop a former linen manufacturing Belfast, BT2 8YB building into an office building complete with ground floor retail space. The office space has been pre-let to Newry based financial services firm First Derivatives, while the retail space is due to be occupied by The Barking Dog restaurant and a Caffé Nero.
34 Portland 88, Barnett Residential 88 Q1 2017 Q1 2019 c.£17 million investment in the construction of a 55 - 71 Ormeau Road, Developments seven storey residential development containing Belfast, BT7 1EB 88 apartments on a formerly vacant side adjacent to the Belfast Gasworks.
35 Flax House, Straidorn Office 28,598 Q3 2016 Q1 2018 Significant refurbishment of an existing five-storey 83 - 91 Adelaide Street, Properties building located on Adelaide Street, originally Belfast, BT2 8FE constructed in the Victorian era.
Red text denotes new starts since last Crane Survey.
21 A time for resilience | Belfast Crane Survey February 2019
Endnotes
1. http://www.belfastcity.gov.uk/council/Communityplanning/BelfastAgenda.aspx
2. https://www.nisra.gov.uk/sites/nisra.gov.uk/files/publications/Annual-Hotel-Occupancy-Survey-2017.pdf
3. https://www.bbc.co.uk/news/uk-northern-ireland-45889436
4. NISRA, https://www.nisra.gov.uk/publications/quarterly-employment-survey-historical-tables-september-2018
5. https://www.belfasttelegraph.co.uk/news/northern-ireland/projects-worth-2bn-left-in-limbo-following-stormont- collapse-37630740.html
6. https://weaverscross.co.uk/belfast-transport-hub/bus-rail-cycle-and-road/
7. http://www.belfastcity.gov.uk/buildingcontrol-environment/regeneration/city-growth-deal.aspx
22 A time for resilience | Belfast Crane Survey February 2019
Contacts
Simon Bedford Jackie Henry Partner, Deloitte Real Estate Office Senior Partner, Belfast +44 161 455 6484 +44 28 9053 1197 [email protected] [email protected]
Colin Mounstephen Senior Manager, Consulting +44 28 9053 1109 [email protected]
23 A time for resilience | Belfast Crane Survey February 2019
Notes
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