The Odyssey in Belfast has secured its first anchor tenants in Cineworld, the leading cinema operator of the UK as well as Hollywood Bowl the largest bowling operator, as part of a £17m redevelopment to make it the number one leisure destination for families in Northern Ireland.
Matagorda 2 is working alongside The Odyssey Trust Company, and construction is due to commence at the end of October. The construction process is expected to last for 17 months for a completion date in Spring 2021.
Guy Hollis, a consultant for Matagorda 2, said:
“We are delighted to be moving forward with our plans to redevelop The Odyssey into the number one leisure destination for families in Northern Ireland with an investment of £17m. We will reconfigure the site and introduce a new mix of high-quality hospitality, entertainment and leisure offerings which will bring The Odyssey in line with some of the best one site leisure destinations in the world.
“We will soon be in a position to reveal new lettings which will raise the bar on the standard of offering currently in the complex. In advance of our redevelopment project, we have already secured the UK’s largest cinema operator, Cineworld, and the UK’s largest bowl operator, Hollywood Bowl. JLL London and Lisney are actively marketing the units at the moment, and we anticipate a high level of interest from well-known names.”
Eric Porter, chair of The Odyssey Trust Company, said:
“We welcome Matagorda 2’s fantastic investment in The Odyssey, and we look forward to seeing this family-focused offering coming to fruition in the next eighteen months. We know that this site is important to the people of Belfast and Northern Ireland and it has been through the effective stewardship by The Odyssey Trust Company that we have been able to attract this significant investment to the site.
“This project is perfectly timed to coincide with the 20th anniversary of the businesses. The wider Odyssey redevelopment will take place alongside the plans which we have already revealed for W5. The £4.5m transformation of W5 is set to complete in June 2020 so customers will experience some very positive and exciting changes at The Odyssey.”
Nicky Finnieston, director at Lisney, said:
“The preparation for this phase of The Odyssey has been underway for a number of years, and we have been involved from the beginning. We are pleased to see these changes coming to fruition with strong anchor tenants – Cineworld and Hollywood Bowl – already secured. There are a number of well-known national restaurant chains entering into the latter stages of negotiations, and we hope to be in a position to make further letting announcements in the coming weeks.”
Rob Howarth, director of restaurants and leisure group at JLL, said:
“The Odyssey is becoming a restaurant and leisure dominant scheme which moves it away from its previous proposition as a student-led destination to now being fully family-focused. Not only is the scheme strongly anchored by two well-known names and W5, through its new format and redesign it will connect directly to the SSE Arena, Belfast, which has over 600,000 visitors every year. This is a compelling proposition for leisure operators and we expect it to be well-received as we proactively market it in the coming weeks.”
Pictured (L-R) is Nicky Finnieston, director at Lisney, Eric Porter, chair of The Odyssey Trust Company, Guy Hollis, consultant for Matagorda 2 and Rob Howarth, director of restaurants and leisure group at JLL.