Tughans have acted for Legal and General, alongside Simmons & Simmons in relation to the acquisition and development of The Loft Lines ‘Build-to-Rent’ project in Titanic Quarter, Belfast. The scheme will transform the current brownfield site on Queen’s Island into 778 new apartments (151 of which are social housing units, funded by Clanmil) and associated public realm works along the river Lagan in Belfast’s Titanic quarter.

 

A long lease has been acquired from Titanic Quarter and the Belfast Harbour Commissioners in this £155m forward-funding deal, which will allow work to commence shortly.

 

Watkin Jones and Lacuna Developments are delivering the scheme in a partnership with Titanic Quarter Limited and Belfast Harbour.

 

Tughans team was led by David Jones, supported by Graham Ord.

 

Commenting on the deal, Tughans Partner and Head of Real Estate, David Jones said

 

“This represents a £140m investment into Northern Ireland by L&G and is particularly significant for the region as the first institutional investment into the build-to-rent sector in NI.  An investment at this level, by an institution of this calibre will help to finally unlock the ‘Build to Rent’ market in Belfast, which has huge potential.”