18 Central, Corporation Street, Belfast,
A substantial build-to-rent project in Belfast city centre, with a chance for early participation via different finance options - including equity share and traditional funding.
This is a substantial site in Belfast that’s targeting the emerging build-to-rent sector (BTR). The proposal will cater for a 298-bedroom scheme that will help Belfast City Council achieve its goal of increasing the population of the city centre by 70,000 by 2035.
Capital investment - real estate
(Greener buildings, Real estate, Residential)
£76 million GDV
Planning application submitted
Time to Final Investment Decision (FID):
Sector and market opportunity
Belfast City Council aspires to increase the city centre’s population with its Regeneration and Investment Strategy. Population growth is now an important policy objective for the council, so this goal will create activity and demand for this asset class.
BTR is full of potential. Well-located developments are starting to cater exclusively for the rental market. In the coming years, this sector will be instrumental in meeting housing need in Northern Ireland, so this is an exciting investment proposition.
The project covers a 0.4 hectare/1 acre plot in the Cathedral Quarter, a rejuvenated and vibrant area immediately north of Belfast city centre, comprising numerous bars, restaurants and leisure amenities, alongside residential and commercial developments.
The site is also within easy walking distance of the £250 million expansion of Ulster University which will add about 18,000 students and staff to the city centre as well as the proposed £100 million ‘Belfast Stories’ city deal, which is a visitor destination project due to open in 2028.
This opportunity is located in Belfast city centre.
Belfast enjoys excellent road, rail and air infrastructure right across the British Isles. It’s only a one-hour flight from London, under 2 hours’ drive from Dublin and only a couple of minutes’ drive from both the M1 and M2 motorways.
Belfast has the highest availability of superfast broadband in the UK and the fastest direct broadband link from Europe to North America.
Local talent and skills
About 61% of all jobs in Northern Ireland are in Belfast. The country has a young and vibrant population, with 53% of the population aged under 40.
There are two world-leading universities in Belfast. 73% of their research is deemed world-leading or internationally excellent. Belfast also has two hospitals, each with considerable R&D opportunities.
Already, over 70% of companies choose to reinvest in Northern Ireland and it’s already home to more than 1,100 international investors, including Allstate, Citi, Seagate, Spirit Aerosystems, and FinTrU.
These statistics demonstrate an attractive business environment for young professionals. This will provide demand for various sectors, including residential, as they will require quality homes to live in.
It is an integral, uniquely positioned part of the UK and is the ideal location to grow your company. Its combination of a business-friendly environment, highly skilled workforce, quality skills pipeline, excellent infrastructure, and unique market access offer a compelling proposition for your business. Over 1,300 international companies across a range of sectors are based in Northern Ireland (NISRA, 2023). The region has a long-standing history of international trade performance, hosts globally recognised universities and offers investors unfettered access to both the UK and European Union markets.
Research and expertise
The project is directly influenced by Belfast City Council’s policy to increase the city centre population by 70,000 residents by 2035.
Planning has been submitted for a 298-bedroom bespoke BTR residential scheme with ground floor retail. The scheme is designed around a central landscaped courtyard which will comprise art installations and other attractive features.
The proposed impressive building will range in height from 11 to 18 levels, with a large landscaped residents’ roof terrace on the 11th floor. There will be a sky lounge and viewing platform at the very top to offer far-reaching views of Belfast and beyond.
Environmental, social and governance (ESG) highlights
The project includes:
- extensive, external roof top terraces encouraging wellness for occupants and biodiversity
- in-curtilage open landscaped courtyard for occupants providing social space
- various residents’ lounges and meeting areas creating a sense of community for all occupants
- targeted EPC ‘A’ rating and targeted BREEAM ‘excellent’
- 16 in-curtilage car parking, with proposed Car Club for future occupants, encouraging green travel
- 216 in-curtilage cycle spaces encouraging physical exercise and green travel
- residents’ gym
Promoters and partnerships
With over 50 years of experience, McAleer and Rushe is an established construction, development and investment group covering the UK.
They have developed more than 186,000 square metres (2 million square feet) of office developments, along with many high profile, high value schemes in the student accommodation, hotel and residential sectors throughout the UK. Turnover is about £400 million per annum.
Local and national government support
The opportunity has close alignment with local government policies such as Programme for Government, The Belfast Agenda, and Belfast Region City Deal.
This opportunity is situated in an area of the city centre that is to benefit from £350 million of additional investment. This includes the new Ulster University campus and the proposed ‘Belfast Stories’ visitor destination centre which is part of the Belfast Region City Deal.
Northern Ireland has the only United Kingdom land border with the rest of the European Union.
Heat networks in the North East and Tees Valley
Heat networks form an essential and significant part of the UK’s plan to reduce carbon emissions, and The North East and Tees Valley are primed to lead the UK in delivering this.
Tyne Clean Energy Park
An exciting opportunity to invest in the North East’s most versatile clean energy park at the Port of Tyne.
Advanced Manufacturing Innovation District Scotland (AMIDS)
Investment at the Advanced Manufacturing Innovation District Scotland (AMIDS) focuses on re-energising Scotland’s local manufacturing base. Development opportunities include advanced manufacturing, aerospace and commercial offices. Investment opportunities include joint-venture partnerships.
Howbery Business Park in Wallingford, Oxfordshire
Creation of a centre of excellence for water, the environment and climate change, providing opportunities for collaboration across research, innovation and industry
Brent Cross Town
Brent Cross Town will be a new 1 million square metre (10 million square foot) mixed-use neighbourhood spanning 180 acres, with 50 acres of open space, parkland and playing fields.
Fawley Waterside aims to be one of the first net zero smart towns in Europe; spread over 400,000 square metres, it will sit inside the proposed Solent Freeport.
Cardiff Central Quay
A 200,000 square metre mixed-use regeneration scheme adjacent to Cardiff’s Central station, in the heart of the capital city of Wales.
Bicester Motion in Oxfordshire
Bicester Motion is a 444-acre branded commercial and leisure destination, strategically located at the heart of the UK’s mobility and tourism industries.
Newtown Works in Ashford, Kent
A mixed-use town centre regeneration project offering world-class film studios, apartments and commercial space at a heritage site next to Ashford International Station.
An immediate investment opportunity in a data-driven commercial development that’s focused on sustainability and clean growth.
Arden Cross in the Midlands
Arden Cross is a global destination for innovation, business, learning and living, across more than 140 hectares in Solihull in the West Midlands.
First Street in Manchester
A high-profile opportunity to invest in net zero commercial office space in the heart of Manchester City Centre.
Heath Park in Cheshire
A unique ethical investment opportunity for a mixed-use regeneration development, focused on market-leading green technology, at a thriving and successful business and technical park.
An opportunity to invest in a £1.3 billion development along the Thames Estuary – a creative hub and new town centre providing homes, film and TV studios and community and transport infrastructure.
Perth West in Scotland
A strategic opportunity for debt, equity investment, co-investment or development funding to develop a net zero eco innovation business park and city expansion.
Clyde Gateway Green Regeneration Innovation District (GRID) in Glasgow
Thinking globally, acting locally. Clyde Gateway's GRID integrates real estate and climate resilience in a '20-minute neighbourhood' near central Glasgow.
Weavers Cross transport-led regeneration project in Belfast
Located alongside the largest integrated transport hub in Ireland, Weavers Cross is a 121,000 square metre regeneration project of mixed-use space.
Teesworks in North East England
Teesworks is a significant brownfield regeneration opportunity in the UK, with the largest and most connected industrial zone and diverse, sustainable and low-carbon activity.
The Waterside in Belfast, Northern Ireland
An opportunity to invest in a prime waterfront location in central Belfast – something that’ll cater for the office, hotel, serviced apartments, residential and private rental sectors.
Harlow Innovation Park
This is an opportunity to forward fund or acquire future assets at the developing 10-hectare Harlow Innovation Park on an individual or multiple plot basis.
A new higher education institute in Milton Keynes
A chance to invest in MK:U, a new higher education institute for the digital economy, created with business and for business.
Kings Hall Life Sciences Park in Belfast, Northern Ireland
An opportunity to invest in the next two phases of regeneration of Kings Hall Life Sciences Park. This project is a significant economic driver in the life sciences sector and has already attracted government funding; the first phase of construction is complete and 40,000 square feet fully occupied by Life Sciences tenants.
MIRA Technology Park, South Site in North Warwickshire
A £260 million funding opportunity for occupier-led investment in the industrial sector with potential for a multi-phased development approach. The scheme provides rare, strategic and advanced manufacturing facilities with associated links to the extensive research and development infrastructure at MIRA.
Titanic Quarter in Belfast, Northern Ireland
Comprising of 75 hectares or 185 acres of prime waterfront land, this project is one of Northern Ireland’s most important regeneration enterprises.
The Sixth, Royal Avenue, Belfast, Northern Ireland
An opportunity to invest in a mixed-use, 250,000 square feet space that will serve the Grade A office, creative and technology sectors.
A new high-speed terminus in Birmingham Curzon
Several major investment opportunities exist around the development of a new high-speed terminus station in Birmingham city centre.
Norwich Union House, Belfast, Northern Ireland
A chance to invest early in a 160,000sq ft mixed-use, 7-storey building primarily for Grade A offices in Belfast. Full planning permission is already in place. A variety of finance options are available including equity share or traditional funding.
GatewayEast in Doncaster
A chance to invest in a world-class destination for research, innovation and living, where sustainable environments and international connectivity create an opportunity for communities to thrive.
Interchange Commercial District in Wolverhampton
A chance for developers and investors to get involved with the Interchange Commercial District area in Wolverhampton, via a range of investment and delivery structures.
East Midlands Freeport
The East Midlands Freeport is the UK’s only inland Freeport, with unparalleled connectivity across the country, to international cities, and home to a wide range of innovative sectors.
The Biosphere at Newcastle Helix
A unique opportunity for an investor-developer to partner with Newcastle City Council and accelerate growth in an established life science ecosystem.
Sheffield Olympic Legacy Park
A public-private partnership bringing South Yorkshire’s most innovative organisations in health, sports and wellbeing together in an actively managed ecosystem, to advance health outcomes and economic growth. Opportunity to invest in 4 foundation buildings as part of a 92,092 sqm (1m sqft) masterplan.
Queen's Parade, Bangor
The project has the dual advantage of being situated within the heart of Bangor city centre but also with direct access to an attractive coastline and marina environment. Its importance is such that it has been awarded significant Levelling Up funding which will contribute to a high quality of public realm within the project itself. It is a project capable of 4 phases. The total project value is around £83 million. Consideration will be given to both funding and equity options.
Speak to us
The government is identifying new projects across the whole of the UK. Investors who are interested in our projects can find out more by contacting us.Get in touch