31/10/2002

Titanic Quarter pitch bids to attract Invest NI

The developers behind the Titanic Quarter Waterfront regeneration plan have unveiled an ambitious multi-million pound, 20-year plan that aims to create up to 20,000 jobs.

However, the first step is to attract local inward investment agency, Invest NI, to be the first tenant in the development scheme. As an anchor tenant for the latest development the agency, which is currently seeking premises, would instil confidence in the project if they were to take offices at the site.

Invest NI are commencing a tender process for 150,000 sq ft of office space with a view to being in residence in 2004.

The Chief Executive of Titanic Quarter, Mike Smith, said it was important that the 185-acre site's first tenant was Invest NI. He said that the "symbolism" of a new landmark building would give the agency the start it deserved.

Current planning proposals for the Titanic Quarter, which runs from the Odyssey complex alongside the Harland and Wolff yard, includes a £30 million development for 200,000 sq ft of light industrial space. The site would be adjacent to the new Northern Ireland Science Park development.

Initial estimates put the number of jobs in the construction alone at around 250, with up to 500 jobs at the completed site.

The main competitor for the Titanic Quarter project is the ongoing redevelopment project at the Old Belfast Gas Works on the Ormeau Road.

Site clearance at the Titanic Quarter extension is expected to commence early next year.

(SP)

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