Planning applications for the development of the Farsons Business Park were submitted to the planning authority today, Farsons said this morning.

Group’s chairman Louis A Farrugia said the business park project was being designed by Ian Ritchie Architects Ltd, with the support of Maltese based engineers, TBA Periti, and assisted by a multi-disciplinary team of local and international experts and consultants.

The design aims to convert, rehabilitate and re-use the listed grade two old Mrieħel brewery including, but not limited to, the old brewhouse and façade. All of these components are listed given their high quality, mostly unaltered, and special interest interiors all of which will be sensitively and professionally restored in line with the values and vision of the company, the group said.

Great care has been taken to retain the integral and unique aesthetic quality of the building and the surrounding built environment, while paying special attention not to compromise the important historical sight-line between Valletta and Mdina.

Farsons Business Park will be limited to five recessed floors and seven low density office blocks all of which will be intersected by generous courtyards inspired by the traditional character of Maltese palaces.

The courtyard gardens will provide a tranquil and inspiring space and all office blocks will be connected to a multi-level carpark of over 700 car spaces as well as the old brewhouse through restored corridors and walkways which used to serve the old brewery. The site boundary wall will be removed so that the precincts of the project are accessible to the public.

The project is planned to commence in mid-2016 and will be completed by end 2020. When completed, this project is expected to result in an investment of the group of more than €40 million and will boast over 18,000 square metres of offices, more than 1,200 square metres of food and beverage areas, 800 square metres of a beer academy, visitor’s attraction and also a unique ‘Cisk Sky Bar’.

Mr Farrugia said the properties the group planned to have under a separate and distinct property-focused public limited liability company included the brewery façade, Trident House’ site at Marsa, the properties housing the franchised food businesses, and the properties being leased out to third parties.

Mr Farrugia also said the  group was planning to hive off a number of properties from its core food and beverage business activities. These properties would  eventually form part of a separate and distinct property-focused public limited liability company planned to be set up in 2017.

The food and beverage business would retain the group’s core operational property assets such as the land and buildings at Mrieħel; the iconic old brewhouse, which shall be used to celebrate the heritage and culture of the brewery and its brands within the social and economic fabric of Malta and its communities; and other identified properties that are currently being used or may be used in the future by the food and beverage business.

Currently, the board was also looking at a number of funding options to ensure adequate funding and appropriate levels of gearing, considering the substantial investment programme being envisaged in the beverage business and the Farsons Business Park.

A presentation on the Farsons Business Park and the proposed restructuring is to be delivered to shareholders during the annual general meeting, in June.

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