THERE WERE many toasts to celebrate the opening of the Ormeau Bakery scheme in Belfast at a party last night.
The former bakery, which was opened in 1890 to produce Ormo bread, has been converted by Big Picture Developments, formed in 2005 by Belfast-based Barry Gilligan (ex chief executive of Ewart) and Dublin-based Kevin Stanley, from the long-established building and developer family.
Stanley Holdings was one of the main developers behind the large scale Belmayne scheme on the Malahide Road in Dublin.
The Ormeau Bakery conversion was carried out by architects Robinson Paterson Partnership, who have created bright modern loft-like apartments while retaining key period details, including the bakery clock.
The large windows in the original brick building, combined with the high ceilings, allow for lots of natural light.
One of the courtyards has been designed by celebrity landscape designer Diarmuid Gavin, who also created a courtyard installation at the Hanover Quay apartments in Dublin.
The Belfast scheme has 156 apartments, 100 of which sold out fast at the project’s launch in the summer of 2007, with one-bedroom homes costing £250,000 (€285,201), and two-beds selling for between £300,000 (€342,286) and £360,000 (€410,744).
Like many who bought off plans during the worldwide property boom, some of those who handed over their dough two years ago began to feel a bit deflated recently wondering what the apartments would be worth now.
They may be heartened to hear that the developer will not be releasing the final phase for some time – hopefully at a stage when prices rise again to match those paid when there was more bread around.
