40 – 50 Townsend Street is a cleared site extending to 0.42 acres and bound by Dayton Street, Greenland Street and buildings at Cargill Street.

A planning application (Z/2005/1461/F) submitted in June 2005 by Braidwater Ltd and GI Martin Architects proposed to develop 54 apartments over 6 storeys with ground floor car-parking and one retail unit. The application was approved in May 2006. Braidwater Ltd submitted a further application (Z/2007/0263/F) in January 2007 proposing 57 apartments over 6 storeys with parking on the ground floor. This application was approved in July 2007.

Development did not proceed and the land was placed on the market by GVA Grimley in 2011.

Osborne King included the site in their June 2014 property auction with a maximum reserve of £75,000. At auction the land sold for £125,000.

The site was included within a property auction hosted by BRG Gibson Auctions in October 2016 with a guide price of £175,000.

Bluehouse Developments Ltd and Dickson Fitzgerald Architects submitted a planning application (LA04/2018/2076/F) in August 2018 proposing a residential scheme comprising 41no. apartments across three blocks varying in height from three to five storeys. The application was amended to 39no. apartments in three blocks varying in height from three to four storeys. The application will be considered at the November meeting of Belfast’s Planning Committee.