A major breakthrough has been announced in the long-delayed Queen’s Parade regeneration project in Bangor, with Oakland Holdings named as the new development partner. The Belfast-based firm will join Karl Group under the Bangor Marine consortium, replacing Farrans in the highly anticipated coastal redevelopment scheme.
The announcement was made just hours before a public protest outside Bangor Castle, which took place ahead of a closed-door council briefing to update elected representatives on the project’s progress.
Legal Agreements Finalised, Development Set to Move Forward
After years of delays and negotiations, the final legal agreements have been reached, allowing the Queen’s Parade project to finally proceed. According to a statement from Ards and North Down Borough Council, documents are now ready to be signed by all parties, including the Department for Communities, Bangor Marine, and the Council.
“This is a significant and positive milestone for the scheme,” said Mayor Alistair Cathcart. “While I share residents’ desire to see boots on the ground, we are now very close to the start of work on site.”
The Council acknowledged public frustration over recent months due to the lack of transparent communication, noting that the complexity of the scheme and legal obligations to the Crown Estate and developer partners contributed to delays.
Oakland Holdings Brings Experience and Financial Strength
Bangor Marine praised the addition of Oakland Holdings, citing its strong reputation for delivering major development projects in Northern Ireland, including the Merchant Square office complex and the 175 Belfast Aparthotel.
“Oakland Holdings offers both the expertise and financial stability needed to bring the Queen’s Parade vision to life,” the Council said.
First Phase to Begin with Marine Gardens Development
It was also revealed that a contractor has been appointed for the Marine Gardens phase, the first step in the wider £multi-million Queen’s Parade regeneration project. The contractor is expected to begin work within three to four weeks of the agreements being signed, though an official start date has not yet been confirmed.
“Bangor has waited too long for this transformational investment,” added Mayor Cathcart. “We now have the agreements in place, and I will be pushing for construction to begin without delay.”
