Expressions of Interest are being sought from developers to clarify the private sector’s appetite for investment in the Fort George site in Derry~Londonderry.
The 15 acre Fort George site owned by the Department for Communities (DfC) has received outline planning permission. The remediation of the site is currently underway and will be completed by the end of the year.
The Department has appointed the property consultants Lisney to manage the process. The Expressions of Interest exercise will run for eight weeks from 17 September 2018 until 12 noon on 9 November 2018.
Announcing the exercise, Damian Mulholland, Director of the Department’s North West Development Office at the Department for Communities said:
“With the remediation of Fort George underway, the Department is now moving to test the nature and scale of market interest in the site.
Given its strategic location adjacent to the A2, for which DfI has published road upgrade proposals, the presence of Catalyst Inc, which has sought planning permission for a second building, and an impressive river frontage, we believe the site is ideally placed to deliver lasting social and economic benefits for the City.
We look forward to receiving suitably ambitious proposals to realise that potential.”
In the case of a positive response, the Department will then proceed with a full marketing exercise to select a purchaser.
As the creation of jobs is a key priority for the Department in regenerating the site, the proposals received in response to the expression of interest exercise will be assessed against a number of criteria including job creation.
Andrew Gawley, Director, Lisney said:
“Planning proposals for this 6.2 hectare riverfront site include over 885,000 sq. ft. of gross floor space for mixed use facilities, making it a supremely unique opportunity.
The team at Lisney in Belfast is delighted to partner with Department for Communities on this very exciting project that will ultimately play a huge role in the regeneration of the area.
At this initial stage, we are certainly expecting Expressions of Interest from potential investors within the UK and Ireland, but I would also expect enquiries from further afield.”