Maximising the potential of Belfast’s Titanic Quarter
Belfast Harbour Commissioners
The Port of Belfast has undergone significant redevelopment in recent years, including the regeneration of part of the historic Harland and Wolff shipyard. The development has been named Belfast’s Titanic Quarter, and it’s is being billed as Europe’s largest and arguably most exciting waterfront development – transforming the 185-acre site and bringing life to the historic location where magnificent ships such as the RMS Titanic were built.
The development included a new city centre marina with a central basin that was to become the centrepiece for the residential and hotel development. Our team was asked to create a detailed market study and business strategy plan for the project, which was to be presented to the Harbour Commissioners’ senior executive team.
The project was completed in two stages. First, we studied the location from a leisure boater’s perspective, analysing market data on volume and segmentation of the marina market in Northern Ireland and studying the competition. From this, we could advise on the berth mix and likely uptake of berths once on sale, as well as the target pricing for the marina.
Next, we were asked to develop a business strategy for the project. This assessed options for different marina offerings in terms of the layout and service packages, and then cross-matched with different project financing and management arrangements. We supported this complex plan with sound, professional advice on the development strategy, as well as detailed information on:
Essential and optional services to be provided within the marina
Procurement and project phasing
Consent and licensing requirements
Management of commercial and leisure traffic within the Port
Financial projections covering estimates of capital and operating costs, income and profitability
We delivered a detailed report advising on all aspects of developing and operating a marina in the centre of Belfast’s Titanic Quarter development. A first phase of pontoons was installed and is providing valuable berthing to yachts visiting the city.
If you’ve got a marina project or development in mind, let’s discuss how we can help.