§ Mr. MallonTo ask the Secretary of State for Northern Ireland what is the value of the contract for the development of Belfast Harbour Exchange Retail and Leisure Park. [47894]
§ Mr. Paul Murphy[holding answer 3 July 1998]: I understand from the Belfast Harbour Commission that the value of the development agreement between the Commissioners and the developer of the D5 site, is represented by future rental income for the land resulting from the granting of leases to future occupiers of the development when completed. As these leases have still to be finally negotiated, it is not possible to put a specific value on the rental flow.
The £65 million estimate mentioned in recent press reports is the value which the commercial property market might place on the development when completed and fully let, and does not reflect the cost of constructing the development, which is the responsibility of the developer.
§ Mr. MallonTo ask the Secretary of State for Northern Ireland which company has been awarded the contract for the development of the Belfast Harbour Exchange Retail and Leisure Park. [47895]
§ Mr. Paul Murphy[holding answer 3 July 1998]: I am advised by the Belfast Harbour Commissioners that they have appointed the joint venture group of Aquis Estates Limited and Anglia General Developments (Harbour Exchange) Limited as the preferred developer of the D5 site, known as Belfast Harbour Exchange.