Market Leads & Opportunities
Cathedral Quarter scheme acquired
Belfast’s Cathedral Quarter is set for further redevelopment after a joint venture (JV), which has committed to making £85m worth of investment in the area, acquired a former office block.The property is located at 81-87 Academy Street and 2-6 Exchange Street.It has become the fourth purchase in the capital by the JV between Lacuna Developments and Watkin Jones.The site is set behind the Ulster University Belfast campus, which is due to complete its final phase of renovation by 2019. It is also adjacent to St Anne’s Square, a leisure-led mixed-use scheme which contains a Ramada Encore hotel, Pure Gym and a variety of restaurants and cafés.David Wright, director at CBRE, believes the deal presents a “great opportunity for Belfast”.
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