Like the expansion of the Sprucefield Development, Holywood Exchange has been controversial and the subject of repeated planning problems and legal disputes.
Sainsbury's Holywood Exchange opened in September 2003 with a sales area of 3,809 m2 (41,000 ft2)[8] The retail warehouse units were not let after completion; they are "the subject of strict guidelines that dictate that only bulky goods can be sold" as a result of the legal challenges to its construction.
In May 2008, however, The Irish News reported that The Planning Service "is considering an application that would see the addition of a mezzanine floor in the retail warehouse."
The paper named Harvey Norman, Next, TK Maxx and British Home Stores as likely tenants, all of which sell electric and/or homeware goods.
[14] Heating is provided by a 1.2 MW biomass boiler fuelled by locally produced woodchips.
[18][19] The developers of the Holywood Exchange were able to take advantage of existing road connections, the most important element of which was a flyover on the A2, already built for access to the Belfast Harbour Estate.
There were proposals for a railway halt to serve both Holywood Exchange and the adjacent Belfast City Airport.
On 16 January 2007, the Regional Development Minister David Cairns announced that a feasibility study would be launched into the construction of a rapid transit route linking Holywood Exchange to Belfast City Centre.