Completion of 'Four Corners' Development, Belfast - 1 October 2008

Thank you Paul [Paul Durnien].

It’s a pleasure to be here today to celebrate the completion of the ‘Four Corners’ Development: a magnificent historic building in its own right and beautifully restored.

I wish to thank all those involved in developing ‘Four Corners’, particularly the project manager, Paul Durnien of Corner Blok Limited, the architect, Colin Conn and the builders, Pattons.  It is good to see the unique character of this building preserved and I pay tribute to all involved.  

Michael O’Neill has captured the historical significance of the area in the four paintings that will be permanently displayed in Warehouse Lane for local people and tourists to enjoy.   

I also wish to acknowledge the role played by the former Laganside Corporation in promoting this marvellous development.  

The combined efforts of private and public sectors have greatly enhanced the physical environment in Cathedral Quarter and provided a welcome boost to the local economy.

The investment of £1 billion on the riverfront and Cathedral Quarter, and £400 million at Victoria Square has spearheaded the regeneration of Belfast’s central core on a scale that we would not have imagined possible a couple of decades ago.  Local people and tourists have returned to the city centre and now support thriving daytime and evening economies, providing a very welcome sign of a community returning to normal.  Indeed, nowhere is the dividend of the peace process clearer than in the massive growth in the tourism sector.

In 2007 the overall number of visitors coming into the city reached an all time high at 6.9 million, bringing an estimated £313 million of tourism revenue into the local economy.  

The number of visitors staying overnight in Belfast rose by 18 per cent last year and the number of out of state overnight visitors increased by 20 per cent to 1.2 million in 2007 when compared to 2006.  For our visitors, Belfast is often the gateway to the rest of the country and we need it to be a showcase of the best of the country.  

The Cathedral Quarter has undergone significant transformation over the last number of years attracting visitors from across the world.  I am therefore delighted to see a second new hotel opening in the area.  Last week at the Belfast Evening Economy Conference I said that this growing modern city needs a vibrant evening economy and this £15m Development is yet another step in that direction.  

A vibrant tourism sector in the City is a sure sign that we are moving forward and providing not just a living environment but also a lifestyle that is fit for the 21st century.  

The Premier Inn 171 bedroom hotel and the new restaurant will further revitalise Cathedral Quarter and the wider city centre.  

It provides a new place for people to spend their leisure time and a destination to attract greater numbers of visitors to the area.  The development has also created 75 full time and part time jobs providing employment opportunities for our people across the city.

Despite the current economic downturn, the regeneration of Belfast is continuing to move forward.  

Whitbread Hotels has demonstrated confidence in Belfast City Centre, with ‘Four Corners’ being the second Premier Inn Hotel to be located in Belfast in the last 2 years.  I welcome this strong investor confidence and the job creation that comes with it.

I would like to thank Whitbread for its commitment to Belfast and it gives me great pleasure to officially handover the building to Keith Freeman. I wish Keith and his team every success.

Thank you.