23rd Jul 2019 in Business
Cathedral Quarter BID is delighted that the company which owns the St Anne’s Square complex made a £3.3m pre-tax profit last year.
Ducales Capital Ltd is the parent group for a wide range of interests of prominent Belfast businessman Shamus Jennings.
Gareth Neill, CQ BID (Business Improvement District) Manager, said: “The encouraging figures demonstrate that their investment in a wide and varied portfolio in the area has paid dividends.
“Ducales Capital is involved in a diverse food and hospitality offering in the heart of the Cathedral Quarter experience.
“The company has made a significant investment in the area in recent years and I’m pleased that their business confidence and commitment is paying off.”
Ducales Capital’s portfolio includes hotels and car park operations, property investment and estate management.
The company is also behind proposal to develop the former Housing Executive offices on Hill Street, site of the original Harp Bar into a new 17-bed boutique hotel.
The planning application, which also includes a new ground floor restaurant and bar, was submitted to Belfast City Council in March this year.
Alongside his brother Francis, Shamus Jennings was once listed among the wealthiest people in Northern Ireland.
He regularly competes in the British GT racing series in his G-Cat team’s Porsche GT3R car.
Their father Gerald Jennings set up business services company Rotary in Belfast in the 1950s.
It developed into a huge business, operating in over 40 countries, before it was sold to an Australian engineering company in 2008 in a deal worth almost £100m.
Another recent boost for the Cathedral Quarter area has been the removal of scaffolding on the facade of the Mac in St Anne’s Square.