'Build-to-rent' high-end apartments scheme unveiled for east Belfast
Northern Ireland's second 'build-to-rent' scheme has been announced in east Belfast.
The £25m Residence at Quay Gate is a joint venture between Northern Ireland property developer Vinder Capital Ltd and Oisin Quinn of London-based developer Aldgate Developments.
The proposed building, on a car park site at Scrabo Street south of the Lagan Bridge, will be designed by Belfast architects LIKE.
It will offer 42 one-bedroom and 63 two-bedroom apartments overlooking the river Lagan and Titanic Quarter.
It will also feature a management suite, cafe and servicing area for bins and cycle storage.
Gavin McEvoy from the joint venture said: "Build-to-rent is an exciting opportunity to introduce premium services and a customer focus to apartment living which is not typically found in build-for-sale apartments in the Belfast market.
"The Residence at Quay Gate will include a dedicated relaxation area, a state of the art gymnasium, work spaces and meeting rooms and will include an integrated IT system.
"Having assessed the model in other major cities in the UK with our high class design and delivery team, we believe there is an exciting opportunity to use our knowledge of the local property market to apply the model in a Belfast context. Build-to-Rent is an exciting progression from the major investment that has been made in Belfast in the student accommodation sector that fills a growing need for city centre living in Belfast.
"Our plans will deliver a cleverly-designed, premium scheme which will deliver well managed homes and create new, sustainable communities in an area of the city centre close to the river, with easy access to transport links."
Build-to-rent apartments are rental only, with secure long-term tenancies from a landlord who retains ownership.
The Residence at Quay Gate is the second build-to-rent scheme announced here. Holywood firm Lacuna and Welsh developer Watkin Jones revealed its plans recently for a 19-storey block in the Cathedral Quarter.
The firms have also collaborated on student accommodation sites in the city. A 12-week pre-application community consultation for The Residence at Quay Gate will take place on February 7 at The Odyssey Pavilion.