TRANSLINK has launched a global procurement process to appoint a private sector investment partner for the proposed £400 million Weavers Cross development scheme in Belfast.
The project, which incorporates the new £175m Belfast Transport Hub, comprises around 1.3 million sq ft of mixed-use office, residential, hotel and retail/leisure space.
Graham Construction is already on site at the Europa bus station and Great Victoria Street train station for the 18-month preparation works.
Babcock International has also been appointed to carry out track and signalling enhancements.
Translink said it is now on the search for a private sector partner “with the financial means and relevant experience, skills and resources" to develop the broader 20 acre surrounding site.
The transport body said the completed project could eventually stimulate additional spending of more than £1 billion for the north's economy.
Translink’s group chief executive, Chris Conway, said: “Weavers Cross is one of the most exciting prospects to come to the market for some time.
“The unique site will be a catalyst, to positively reimagine this area creating an impressive gateway for the city.
“By establishing a new, high quality mixed use development, providing modern economic infrastructure, it will afford opportunities for businesses to invest and grow.”
Adam White, senior director at CBRE, said: “Weavers Cross will not only be transformational for Belfast and Northern Ireland, but represents a once in a lifetime opportunity to partner on a transport led regeneration project in a key city centre location.
“Significant infrastructure and public realm upgrades will also be completed as part of the Belfast Transport Hub programme; significantly reducing the private sector’s upfront capital requirements at Weavers Cross."
