Over £100m secured for Belfast’s build-to-rent scheme

A £155m funding deal for Belfast’s first large scale private ‘build-to-rent’ development in the Titanic Quarter has been agreed.  

The new development, known as the Loft Lines, received planning permission in April for almost 800 homes and construction of the site is set to begin towards the back end of 2023. The £155m investment by Legal & General and Clanmill Housing Association is part of a wider £175m development in the site and will see both take ownership of the apartment upon completion.

Out of the 800 new homes, 627 will consist of ‘build to rent’ apartments and 151 social homes with a mix of one-, two- and three-bedroom units alongside studio apartments.

James Eyre, Commercial Director of Titanic Quarter Limited, said: ‘It is very exciting to see the loft Lines progress to the construction phase, delivering Belfast’s first major Build to Rent, social and affordable residential project in Titanic Quarter.

‘The Loft Lines is a super component of the continuing mixed-use generation of Titanic Quarter and supports Belfast’s growth ambitions set out in Belfast Agenda.’

Within walking distance to Belfast city centre, residents at the Loft Lines scheme are close to the range of amenities and leisure facilities Belfast has to offer. They also benefit from good railway links to Dublin and Belfast City Airport, which is under three miles away.

Joe O’Neill, Chief Executive of Belfast Harbour, said: ‘We are pleased to see the continued positive progress of the ‘Loft Lines’ development working in partnership with Watkin Jones and Legal and General, supporting our ambition to develop an iconic waterfront for the city.

‘The addition of Build to Rent and social/affordable residential with supporting commercial use and leisure activities will create an urban community on the water with the highest quality outdoor space and indoor accommodation.’

Developed by Watkin Joes and Lacuna Developments, the project is also being supported by Belfast Harbour and Titanic Quarter Limited.

Image: K. Mitch Hodge