Plans to turn derelict land in east Belfast into a multi-million pound business park were unveiled today.

The four acre site on the Ormeau Embankment will be transformed at a cost of £18m into high grade office space for 650 workers — and create over 250 construction jobs in the process.

The scheme named Ravenhill Reach Business Park will total 80,000sq ft, comprise 39 business units and, the developers say, create positive environmental landscape enhancements.

A planning application was lodged in January and the developers hope to begin the first phase in early 2009.

Local construction company, Graham, is behind the project after being appointed by the Department of Social Development following open competition by Belfast Regeneration Scheme.

Social Development Minister Margaret Ritchie, said the business park would bring both

physical and economic regeneration to the area and put a large derelict site into use: "The employment opportunities created and the investment improvement in the area will greatly benefit the people of east Belfast and I very much welcome the scheme within the overall development of this part of the city," she said.

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Michael Graham, executive chairman of the construction company said the investment would provide a major boost.

"This derelict site on the Ormeau Embankment offers both a closeness to the city centre and excellent transport links to the whole of Belfast," he said.

"The fact that it is a regeneration scheme where we can improve the landscape and re-use derelict land is a bonus."

He said that what would be on offer was high quality, affordable bases for small and starter businesses which would strengthen the economy as a whole and offer much needed employment.

A key aspect of the scheme will be the involvement of the local community who intend to start up their own company to manage the landscaping, security and maintenance around the site once the project is complete.

Involvement with the local community group and politicians had been central to the scheme, said Mr Graham.

Discussions were taking place with the Bridge Community Association about the community business.

Ian McClean, chairman of the Association said: "With a number of major regeneration projects taking place around east Belfast, this is an exciting time for the community living in the Ravenhill area.

"Its good to see development taking place on a site that has been derelict for so long and will improve the appearance of the area."

He said the scheme would not only provide additional employment but have a positive

knock-on effect on neighbouring businesses on the Ravenhill Road.

(BMC)