The proposed development forms part of Plot 4 of the King's Hall masterplan and is for the construction of a new four storey residential development for over 55s retirement living. It comprises of 41 apartments, resident’s lounge, commerical and ancillary accommodation with associated on site surface level parking provisions, landscaping and access. The site occupies the north west corner of the existing Kings Hall site and is currently occupied by vacant buildings associated with the former use of the site.

The Kings Hall at the Balmoral Showgrounds was constructed in 1933-34 as a permanent exhibition hall for the Royal Ulster Agricultural Society (RUAS) and was officially opened on 29th May 1934 by H.R.H. the Duke of Gloucester, being renamed the ‘King’s Hall’ by the permission of King George V. In June 2012, the RUAS voted to purchase and develop a new venue, Balmoral Park, a 65-acre (260,000 m2) events park located in Lisburn, around 10 miles (16 km) from the current King's Hall site. Also at this time, the RUAS unveiled plans to build Northern Ireland's largest exhibition and events venue at Balmoral Park to replace the main King's Hall building. This venue was constructed in 2015 and named the Eikon Exhibition Centre. As a result, the King's Hall building closed its doors on 30 June 2012 and has been vacant since.

The Kings Hall site was acquired by Benmore Octopus, a joint venture between Benmore Group and Octopus Real Estate who have proposed a £100m regeneration project to transform the site into a health and wellbeing park.

In February 2022, KH Residential Ltd submitted a planning application (LA04/2022/0311/F) proposing to develop 40 no. residential units and 2 no. commercial units with associated car parking, cycle storage servicing, landscaping with access off Balmoral Avenue on Plot 4 of the Kings Hall Health and Wellbeing Park. This application was approved in April 2023.