Investors to ring changes at exchange
Investors have vowed to transfrom an Art Deco-style Belfast property after acquiring it from the firm led by developer Frank Boyd.
Portland Property Group has said it plans to turn Malone Exchange on Lisburn Road into nine apartments after buying it from Killultagh Estates for an undisclosed sum. The group has worked on schemes at Wellington Park and on Annadale Embankment.
Malone Exchange is famed as one of just a handful of Art Deco buildings in the province and was the location for the telephone exchange before being turned into offices.
Mr Mulligan said: "You can't create buildings like this, there is a personality and a feeling you get from owning a part of something unique with an abundance of soul.
He said Portland sought out unusual projects. "Malone Exchange offered that opportunity to bring something new to the market."
Malone Telephone Exchange at the corner of Windsor Park and Lisburn Road was built in 1935. According to estate agents Fetherston Clements, "the building's iconic façade is neo-Georgian in style, the sparse symmetry of the Georgian style softened with just a hint of the Art Deco style in its striking 1930s curves".
Meanwhile, plans emerged this month for apartments at Upper Crescent off Botanic Avenue, also in south Belfast. The listed building at 14 to 16 Upper Crescent has been derelict for around 20 years.
Property Development NI wants to turn it into 21 apartments.