Landmark redevelopment to support major economic boost

The Kings Hall Health and Wellbeing Park will boost the Northern Ireland economy by £47m annually and support 640 full time equivalent jobs, as well as improving access to services for patients, a new report has found.The economic impact assessment, carried out on behalf of developer Benmore Octopus, comes as the first phase of a plan to redevelop the landmark site as a primary care complex, with residential care, independent living and a hotel is recommended for approval to Belfast City Council Planning Committee.It estimated that new residents in the proposed independent living units on the site would contribute £260,000 a year to the local economy while the uplift in visitor expenditure from overnight stays in the hotel will offer a £2.9m boost.Meanwhile, the economy will receive a boost of £60m in gross value-added terms during the ten-year construction phase of the build, supporting 60 full-time equivalent construction jobs and a further 30 indirect construction jobs on a full-time equivalent basis.Total investment in the refurbishment of the existing building and construction of new properties will reach £88.5m, the research has shown.Benmore Octopus, the company behind the proposals is a joint venture between Benmore Group and Octopus Healthcare.