Two leading British property companies have joined the race to build a new multi-million pound retail complex in Belfast by launching plans to double the size of the city's largest shopping centre, CastleCourt.
Westfield and MEPC, the joint owners of the shopping centre, are seeking planning permission to enlarge CastleCourt in a development which they claim would create up to 3,500 jobs in the city. The developers believe their scheme would regenerate and revitalise the area around the existing shopping centre, which is located in Royal Avenue and help attract new investment to the city.
It is the latest in a series of proposed projects centred on CastleCourt in recent years. Two years ago MEPC was partnered with Dunloe Ewart in a £250 million sterling (€405 million) Gateway project that also proposed expanding the existing shopping centre. This scheme was abandoned but Westfield and MEPC's new proposal will face stiff competition against propositions for new city retail developments.
These include one of Dunloe Ewart's major flagship projects in Belfast. The all-Ireland property group has applied for planning permission for a rival development, just a few minutes' walk from CastleCourt. Dunloe Ewart lodged an application more than 18 months ago for its £150 million sterling Cathedral Way scheme.
This included plans to develop 250,000 sq ft of new retail space in the city and a number of leisure projects, from a health club to a possible hotel.
Dunloe Ewart has progressed the scheme by acquiring a substantial portfolio of property in the area, but a decision from the planning authorities in Northern Ireland is still outstanding. There is also an outstanding planning application from the Dutch group Multi Development Corporation (MDC) for its £200 million Victoria Square Development for Belfast city centre.
The company was granted "preferred developer" status by the Department of Social Development over Dunloe Ewart last year for the scheme.
The Irish group challenged the decision and a public inquiry is to be held into the proposed Victoria Square development early next year.
The latest planning application for the city centre comes as the Belfast Chamber of Trade lost its battle earlier this week to oppose a new out-of-town shopping centre.
The D5 complex, on a 52-acre site on the Harbour Estate in Belfast, is expected to create up to 1,200 jobs and would be one of the largest retail developments in the North when completed.
