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25/03/2004
Bangor centre redevelopment backed by government
A plan for a £70 million redevelopment of part of Bangor Town Centre has received government backing today with an offer to step in and vest land in the development area.
Social Development Minister, John Spellar announced an agreement in principle to assist a private sector developer in a major regeneration project in the Queen’s Parade/Main Street area, by offering to vest land at Main Street and King Street.
Mr Spellar said: “I am pleased the company has now proposed a more ambitious plan involving a much bigger area and creating a link into Main Street; indeed it has already acquired a substantial part of the site for the scheme which will be a mix of retail, leisure and residential development."
He added: "It will help secure the badly needed regeneration of the town centre, generally improve the townscape of the area and act as a counter-balance to out-of-town shopping malls. It is good news for the Council, good news for the traders and people who live in the area and good news for the wider community in Bangor and surrounding areas."
Adam Armstrong, Director Karl Greenfarm, said: “We are committed to delivering a major new retail-led regeneration scheme in Bangor centre and confirmation of the Department’s support is a great boost. We have already been active in seeking tenants for the scheme and our letting and development consultants Osborne King have confirmed that they are in advanced negotiations with a major department store anchor tenant."
North Down Borough Council also welcomed the news. Chief Executive Trevor Polly said: “This is a great outcome for Bangor because it will bring major regeneration to the town centre and will copper-fasten the town’s role as a primary retail destination.”
The proposals remains subject to planning approval, an economic appraisal and the due statutory process associated with the vesting process.
The scheme will contain 500,000 sq feet of new development in total.
(SP)
Social Development Minister, John Spellar announced an agreement in principle to assist a private sector developer in a major regeneration project in the Queen’s Parade/Main Street area, by offering to vest land at Main Street and King Street.
Mr Spellar said: “I am pleased the company has now proposed a more ambitious plan involving a much bigger area and creating a link into Main Street; indeed it has already acquired a substantial part of the site for the scheme which will be a mix of retail, leisure and residential development."
He added: "It will help secure the badly needed regeneration of the town centre, generally improve the townscape of the area and act as a counter-balance to out-of-town shopping malls. It is good news for the Council, good news for the traders and people who live in the area and good news for the wider community in Bangor and surrounding areas."
Adam Armstrong, Director Karl Greenfarm, said: “We are committed to delivering a major new retail-led regeneration scheme in Bangor centre and confirmation of the Department’s support is a great boost. We have already been active in seeking tenants for the scheme and our letting and development consultants Osborne King have confirmed that they are in advanced negotiations with a major department store anchor tenant."
North Down Borough Council also welcomed the news. Chief Executive Trevor Polly said: “This is a great outcome for Bangor because it will bring major regeneration to the town centre and will copper-fasten the town’s role as a primary retail destination.”
The proposals remains subject to planning approval, an economic appraisal and the due statutory process associated with the vesting process.
The scheme will contain 500,000 sq feet of new development in total.
(SP)
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
