Planning permission granted for largest investor build yet in Belfast

Belfast City Council has approved the largest build-to-rent development to date in the city — a £117m near-800-strong apartment complex across three blocks in the Titanic Quarter.The developers of the Loft Lines, on the River Lagan, are promising 20% of the 778 apartments will be housing association-managed, with the rest marketed to investors.Build-to-rent, or BTR, is a growing sector of the housing market across the UK and Ireland by which investors seeking long-term return from the rents on properties buy pieces, or shares, of the development, which is managed by a third party.Among the recently build-to-rent developments is the Portland on the Ormeau Road, where two-bedroom apartments are being marketed at £1,500 a month.Designed by Todd Architects, the development on Queen’s Island will comprise one-, two- and three-bed and studio apartments. It will also include a riverfront promenade and a one-acre park. Work is due to begin this summer, with an estimated August 2025 completion date.Lacuna Developments and Watkin Jones Group PLC, which has properties under management for investors across the islands, are the lead developers, with support from Titanic Quarter Limited and Belfast Harbour.The developers said they are expecting a local contractor to be appointed to build the complex.