Belfast Telegraph

Developers hope to build more than 40 flats off Belfast's Shankill Road

By Christine Carrigan

More than 40 apartments could be built in the Shankill area of west Belfast.

Bluehouse Developments Ltd is seeking planning permission to build 41 flats.

The company, which is owned by Bernadette and James Neeson, is hoping to build the properties between 40 and 50 Townsend Street, just off the Shankill Road.

If approved, the new residential scheme will consist of 41 apartments in three blocks, varying in height from three to five storeys.

Meanwhile, four luxury apartments have been built in Bangor after the developers raised £250,000 from peer-to-peer lending.

Co Down Developments, which is led by Albert McCann and Michael Carnduff, bought land in Bangor for just £66,000 during the property crash.

Now, after borrowing £250,000 - the largest sum of peer-to-peer funding raised in the UK so far - they are hoping to make a healthy return of more than £100,000 on their investment.

The apartments on Balloo Road in the town will sell for between £115,000 and £120,000.

Co Down Developments was initially referred to the alternative business funding (ABF) platform by Barclays Bank after the firm was rejected for a loan.

Due to the rapid success of ABF Mr McCann and Mr Carnduff are now looking for a new project.

Mr Carnduff said: "It is our goal to build more here and also on the mainland.

"We want to move forward and grow and ABF,is definitely the funding solution that will help us achieve that."

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.

Popular