Two years after outline planning permission was granted no work has been underway at the former Sirocco Works on the banks of the Lagan, but the developer insists that investors are still interested in its potential.

The Waterfront Belfast was to be the multi-function site including 79,620 square metres of grade A offices, an 18,200 square-metre hotel/aparthotel, 675 flats, a pedestrian bridge across the Lagan, and 9,650 square metres of retail/leisure/community uses.

Osborne + Co secured outline planning permission for its  £450 million Waterside Belfast project in July 2020.

The 16.5 hectare remains a wasteland with no development on the east bank of the Lagan, however, there has been speculation that a third-part investor is considering the site for purchase or lease, following on from last September’s Northern Ireland investment Summit.

In a statement, the developer said: “There has been considerable and varied interest from a range of potential investors/partners in The Waterfront Belfast since its inclusion at the Northern Ireland Investment Summit in September 2023.

“We continue to engage with our stakeholders on our plans to bring forward the scheme under the outlined and detailed planning consents whilst exploring viable proposals from potential investors/partners.

“Ultimately, we remain committed to seeing The Waterside Belfast realise its full potential for the benefit of the city of Belfast and its citizens.”

Belfast City Council appear to be becoming increasingly frustrated at lack of progress on major developments, expressing frustration at the lack of progress on Castlebrooke Investments Tribeca development in Cathedral Quarter’s North Street.