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- Central Refurbishment Opportunity With Planning For 19 Residential Apartments
- OFFERS IN WRITING (PLEASE REFER TO BROCHURE FOR DETAILS)
- CLOSING DATE: 12.00 NOON 3rd SEPTEMBER 2019
Additional InformationDerry / Londonderry is Northern Irelands 2nd largest city and provides the clear focal point for trade in the North West of the Province and indeed Ireland as a whole. It boasts a great deal of innovation through its Science Park, local employers such as Seagate and many fine seats of learning such as the Magee Campus of the University of Ulster and the North West Regional College.
The City of Derry currently has a residential population of c. 107,877 and a cross border catchment of 400,000.
The subject comprises a ground floor retail unit and 3 no. upper floors (formerly Offices), which, from a commercial perspective could be reutilised with some expenditure. An ATM is also in situ.
The alternative use for the property is clearly mixed use and the planning in place (later described in full) for the creation of 19 apartments (comprising 5 no. two bed and 14 no. one bed units). This will involve raising the existing roof level, adjustment of floor plates and creation of new access routes etc. New scheme will be 6 stories tall.
We are advised that the property is situated in an area of housing need from a social housing perspective, and as such, the approved planning may well tie in with this use too. Technically the title being sold includes the overall ownership of No’s 50 & 52 also at ground floor level but these have been given out on a long leasehold basis for the long term so are of no value or consequence in practice.
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