With the new scheme set to include shops, offices, apartments, plus new parking spaces, Councillor Muir said what has been left as a ‘derelict eyesore’ for far too long will now be transformed, revitalising the area.
He added: “With occupancy rates in Holywood Town Centre fast approaching 100 percent, the need for additional retail and office space is becoming acute, in stark contrast to other Town Centres.
“Progression of this scheme therefore provides opportunity to facilitate further economic growth with additional jobs likely to be created by the new businesses and construction work to be undertaken.
“Rather than leaving the current carpark areas to deteriorate this scheme provides template for rejuvenation of the wider area, linking into the second, but smaller, phase of Public Realm works which will refresh and renovate Redburn Square and Hibernia Street.”