Farrans will build two office buildings comprising a total of 180,000 sq ft of space. Phase one plans also include 24 apartments, as well as ground floor retail units.
Tribeca Belfast is a £500m urban regeneration scheme which will deliver 1,500,000 sq ft of prime residential, grade A office, retail and food & beverage space in Belfast city centre.
Developer Castlebrooke Investments has already invested £50m in site assembly, planning and professional fees, with further major investment planned.
The 12-acre site is next to St Anne’s Cathedral and bounded by Royal Avenue, Donegall Street, Lower Garfield Street and Rosemary Street. Refurbishment work is already under way on the listed Garfield & North building on Lower Garfield Street.
Castlebrooke Investments chief executive Neil Young said: “We believe this project will have a hugely positive impact on a part of Belfast that has had little to no investment in recent years, as well as providing a boost to the whole economy through the jobs that will be created locally during the construction phase.
“The development is rooted in the aspirations of the city to become more international and to build on the optimism already apparent in Belfast. Farrans have embraced our regeneration vision and we look forward to seeing the project move forward in early 2019.”
Farrans managing director John Wilson said: “This is an exciting development for us and for Belfast. In recent times, we been active throughout the UK and Ireland but we are keen to establish Tribeca Belfast as a success in our local market. We are looking forward to being the delivery partner behind Tribeca Belfast, which will undoubtedly deliver key economic benefit to the city, and bring a wealth of employment opportunities to Farrans and our extended supply chain.”