Castlebrooke Investments announced today that leading building and civil engineering firm, Farrans Construction, has been appointed as preferred contractor for Phase One of the £500m Tribeca Belfast urban regeneration scheme.
The exciting project will see the Dunmurry-based company deliver two Grade A office buildings comprising a total of 180,000 sq ft of space, one of which has been designed to international headquarter office standards. The programme will also include 24 luxury apartments, as well as ground floor retail and food & beverage units.
Glenn Gilmore, Regional Director at Farrans, praised the scheme for its promise of continued economic growth in Belfast city centre.
“Once commenced the first phase of Tribeca Belfast will create more than 1,000 job opportunities which will include apprenticeship opportunities through the duration of the construction programme,” he said.
“The project will run for two years across design development and construction. This job creation over the next few years is certainly another positive output for the Northern Ireland construction sector.”
Tribeca Belfast is a 12-acre site located beside St Anne’s Cathedral bounded by Royal Avenue, Donegall Street, Lower Garfield Street and Rosemary Street. Sensitive refurbishment work is already underway to preserve the listed Garfield & North building on Lower Garfield Street.
The preferred contractor on the scheme, Farrans Construction, is a division of Northstone (NI) Ltd, which is owned by Irish-based building materials group CRH plc. A global company employing over 85,000 people at 3,600 locations worldwide, CRH generates annual revenue in excess of €27 billion.
In its own right, Farrans has experience working on major regeneration projects in Northern Ireland and beyond. In the past decade, Farrans completed the stunning Belfast Streets Ahead project on behalf of Belfast City Council, as well as the now iconic, £165m Victoria Square Centre some years earlier in a joint venture partnership.
Neil Young, Chief Executive of Castlebrooke Investments, said:
“We are delighted to be working with Farrans, one of Northern Ireland’s best known and most successful construction companies, as our preferred contractor for Phase One of Tribeca Belfast.
“We believe this project will have a hugely positive impact on a part of Belfast that has had little to no investment in recent years, as well as providing a boost to the whole economy through the jobs that will be created locally during the construction phase.
“The development is rooted in the aspirations of the city to become more international and to build on the optimism already apparent in Belfast. Farrans have embraced our regeneration vision and we look forward to seeing the project move forward in early 2019.”
John Wilson, Managing Director of Farrans, said:
“We are delighted to have been selected as preferred contractor by Castlebrooke Investments on the first phase of this key regeneration scheme within the heart of Belfast city centre. Over the years Farrans has delivered some of the most notable key regeneration projects in Belfast. This is an exciting development for us and for Belfast. In recent times, we been active throughout the UK and Ireland but we are keen to establish Tribeca Belfast as a success in our local market.”
“We are looking forward to being the delivery partner behind Tribeca Belfast, which will undoubtedly deliver key economic benefit to the city, and bring a wealth of employment opportunities to Farrans and our extended supply chain.”
Tribeca Belfast is a £500m urban regeneration scheme which will deliver 1,500,000 sq ft of prime residential, Grade A office, retail, food and beverage space in Belfast city centre.
Castlebrooke Investments has already invested £50m in site assembly, planning and professional fees, with further major investment planned.