Council Owned Company Recommended To Run Belfast Waterfront

A council owned company has been recommended to be established to run the Belfast Waterfront on completion of the current £29.5 million extension.

Work on a new conference and exhibition facility, which is due to open in May 2016, is well advanced as Belfast aims to become a major player in the global conference market with the target of generating £100 million return for the city over a five year period.

The council's Strategic Policy and Resources Committee recommended that those objectives and best value for ratepayers would be best achieved by the arm's length company, owned by the council but operating more independently.

The detailed analysis presented led the committee to recommend that the council-owned model would best enable the Waterfront to successfully compete with other international conference venues in attracting major events and creating over 1,500 new hospitality and retail jobs.

The decision was however not unanimous and the recommendation is now subject to ratification at the council's monthly meeting on Tuesday 1 September. If agreed, a board of directors will be appointed, with the new company taking over daily running of the Waterfront from April 2016. The venue will remain in the council’s ownership.

(CD)