Ambitious Plans Announced For The Regeneration

25 March 2004
AMBITIOUS PLANS ANNOUNCED FOR THE REGENERATION
A major boost for Bangor Town Centre was today announced by Social Development Minister, John Spellar, MP. The Minister said that his Department has agreed in principle to assist a private sector developer in the regeneration of the Queen’s Parade/Main Street area, by offering its statutory powers to help acquire and assemble land at Main Street and King Street. The news was welcomed by North Down Borough Council and the Developer.

The regeneration of the area was originally initiated by North Down Borough Council who, following a detailed competitive process, nominated Karl Greenfarm Ltd, a private development company as preferred developer of a major site at Queen’s Parade.

Mr Spellar said: "I am pleased the company has now proposed a more ambitious plan involving a much bigger area and creating a link into Main Street; indeed it has already acquired a substantial part of the site for the scheme which will be a mix of retail, leisure and residential development.

"I welcome this scheme, which builds on an initiative by North Down Borough Council. It will help secure the badly needed regeneration of the town centre, generally improve the townscape of the area and act as a counter-balance to out-of-town shopping malls. It is good news for the Council, good news for the traders and people who live in the area and good news for the wider community in Bangor and surrounding areas.

"My Department looks forward to working with Karl Greenfarm Ltd with a view to securing the delivery of what I feel is a very ambitious and worthwhile scheme."

Karl Greenfarm Director Adam Armstrong added: "We are committed to delivering a major new retail-led regeneration scheme in Bangor centre and confirmation of the Department’s support is a great boost. We have already been active in seeking tenants for the scheme and our letting and development consultants Osborne King have confirmed that they are in advanced negotiations with a major department store anchor tenant. I’m hoping to make an announcement to confirm the identity of this major retail name in the near future.

"We have worked hard with the Council to bring this scheme together and we will continue to work with the Council, the DSD and the people of Bangor to deliver a development of the highest standards. We are confident that we can deliver a high quality, Ł70m scheme with residential, leisure and retail elements and are looking forward to making progress in the months and years to come."

North Down Borough Council also welcomed the news. Chief Executive Trevor Polly said: "This is a great outcome for Bangor because it will bring major regeneration to the town centre and will copper-fasten the town’s role as a primary retail destination. The Council has worked over a number of years to provide the opportunity to extend the retail heart of the town and we are now looking forward to working with the developer and DSD in the delivery of the scheme and playing our part in the delivery of a major new asset for Bangor and the Borough as a whole. We are also very pleased that a new theatre will be included in the scheme along with the other leisure, residential and retail elements."

The Minister explained that the proposals are still subject to planning approval, an economic appraisal and the due statutory process associated with the vesting process.

The scheme will contain 500,000 sq feet of new development in total.
NOTES TO EDITORS:

For further information contact the DSD information office 028 9056 9219 or Paul McErlean, DCL, 028 9033 9949, representing the developer Karl Greenfarm.

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