By Julie Waters
THE £420,000 unpaid rates of a defunct Bangor shopping centre should be ‘invested into public services, supporting local communities and regenerating the city’.
North Down MLA Connie Egan has called for any of the rates money recovered from the company that formerly owned the Flagship Centre but which is now in receivership, should be used for the good of the city.
Flagship Bangor Ltd went into receivership in 2024 and last week, Finance Minister John O’Dowd confirmed that the firm went bust owing hundreds of thousands of pounds in rates.
In a written answer to Ms Egan, Mr O’Dowd said: “Land and Property Services has advised that the liable ratepayer for the Flagship Shopping Centre, Main Street, Bangor, is Flagship Bangor Ltd.
“The company is recorded as the ratepayer for 40 vacant units within the centre and currently has an outstanding rates balance of £418,998. No payments have been received against these units since the start of their liability in August 2021. “There is no rate liability outstanding for the period 2019 to August 2021.”
In recent press reports, a spokesperson for the Department of Finance said: “Land & Property Services (LPS) will continue to pursue outstanding rates in this case.”
LPS will hope to be able to recover some or all of the outstanding rates once the receiver realises the value of the assets and distributes the money to the various creditors.
Ms Egan has called for the unpaid rates to be injected into the seaside city to help its long- anticipated regeneration.
Said Ms Egan: “The substantial unpaid rates bill for the Flagship centre highlights yet again the pressing need for the redevelopment of the site. The £400,000 outstanding balance could be invested into our public services, support local communities and further regenerate our city.
“I am very encouraged by recent engagement with interested developers, and I hope to see this site developed for use by the local community in the coming years.
“Bangor has so much potential, and there’s much to look forward to with the regeneration of Queen’s Parade and Bangor Waterfront. However, the redevelopment of the Flagship Centre will have to play a key role in that if we want success.
“Ultimately, the redevelopment of the Flagship would benefit our local economy, our local people, and our local tourism offering,” she added.
The once bustling lower Main Street shopping centre first opened its doors back in the 1990s, anchored by Dunnes Stores with a popular food court boasting stunning views across the marina and Belfast Lough.
Sadly, the centre fell into decline following the impact of the 2008 financial meltdown combined with increased online shopping trends, until it finally closed its doors over five years ago.
However, the centre’s fortunes could be on the verge of change as the Northhold Group has plans to redevelop the shopping centre site.
Following a recent public consultation event, the mixed- use redevelopment includes bars and restaurants, a micro brewery, family entertainment such as 10 pin bowling and crazy golf, office space and start up businesses as well as a gym and padel courts.
