Queen's Parade, Bangor
Investment opportunities are available for this mixed use, multi-phased city centre project located in an affluent and desirable area of Northern Ireland.
This private sector project is located in an desirable area of Northern Ireland on the south side of Belfast Lough and within the Belfast metropolitan area. The opportunity presented allows scope to participate in an eagerly awaited mixed use seaside project which is capable of phasing and which has already been granted government backed Levelling Up funding.
Location:
Bangor
Investment type:
Capital investment - real estate
Sector:
(Real estate, Residential, Offices, Retail, Leisure, Hotel)
Project promoter:
Bangor Marine Limited
Scale:
£83 million GDV
Planning status:
Full planning consent
Time to Final Investment Decision (FID):
0-6 months
Sector and market opportunity
Bangor is often cited as one of the wealthiest council areas in Northern Ireland. It has a vibrant economy boosted by tourism annually. Tourism within Northern Ireland has significant potential with 4.5 million visitors annually, a figure which is growing due to its many world class attractions.
Location
Located some 20 minutes drive time from Belfast, Bangor functions as a commuter settlement and enjoys an attractive seaside location overlooking one of Ireland’s largest and most successful private marinas which currently has some 600 berths. Bangor has a catchment of 475,000 persons within a 30 minute drive time. As well as a vibrant residential market, the Ards and North Down Council enjoys significant tourism revenue and further potential.
Connectivity
Bangor has excellent rail and road links to Belfast and its wider Metropolitan Area. For example, Belfast City airport is only a 20 minutes drive time away, as is Belfast Port.
Local talent and skills
The area has several top grammar and secondary education establishments. In addition, the Bangor campus of the South Eastern Regional College specialises in business management, bio-sciences, computing, electronic engineering, manufacturing and mechanical engineering, and creative industries.
Consequently, North Down is home to several world class companies. These include Denroy Plastics, a world leading innovator in the design and manufacturer of engineered polymer components and solutions, and Spirit Aviation, one of the world’s largest suppliers of aerostructures for aviation businesses.
Region Spotlight
Northern Ireland
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
Notable supporters include Ards and North Down Council, the Department for Communities in Northern Ireland as well as the Department for Levelling Up and Communities.
Further details
The project is mixed use and is capable of a risk averse phased approach, having the capability of providing accommodation for a variety of vibrant sectors, to include residential, offices, hotel, leisure, and retail.
Local and national government support
The projects have obtained £9.8 million of Levelling Up funding.
It will also link directly into Bangor’s wider waterfront regeneration plans which has £75 million of investment. This is part of Belfast’s region city deal that will improve a 2 mile stretch of coastline with new green ways and coastal paths.
Environmental, social and governance (ESG) highlights
Queen’s Parade will support environmentally friendly construction practices and deliver a much better environment from which to enjoy excellent outside spaces. In addition, the vision for the project with gardens, play areas and seafront lawns will not only lift the connection to the natural environment but also lever societal gains.
