05/10/2004

Park Centre sees £10 million investment plan

The Park Centre, one of Northern Ireland’s longest established shopping centres, is set to undergo major extension and refurbishment in an investment worth some £10 million.

The Belfast complex, owned by Latt Ltd, a local property development and investment company, is to benefit from a 30,000 sq ft extension, set to open in March 2005. Further renovations and expansion planned to be complete by mid-2006 could increase the centre’s size from 125,000 sq ft to 200,000 sq ft.

Centre manager Chris Newton said: “This extension is the beginning of a major overhaul which is allowing us to bring exciting new tenants to the centre. We feel that it will help us extend our popularity further into other parts of Belfast and beyond. We have already secured popular fashion stores Bon Marche, New Look and Peacocks as tenants for the first phase extension, which will allow us to reach out to many new customers.

“Further development work at the complex and improvements to the Westlink and M1 when they are completed will only increase our accessibility and appeal,” he said.

The first phase extension of 30,000 sq ft represents an investment of around £3.5 million. The second phase of development of up to £6.5 million, will begin as soon as the first stage is complete. It is set to include further expansion, major renovations to the existing buildings and an adaptation to the car park.

The Park Centre, which first opened in 1985 on the site of the old Belfast Celtic Football Club, was the third shopping centre ever to open in Northern Ireland. It enjoys a prime location, half a mile from the City Centre, beside the Westlink and M1.

The centre currently has 45 tenants, including anchor tenants Dunnes Stores, Iceland, JJB Sports and Superdrug.

(CL)

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