Belfast Telegraph

Investment buyers line up for football stadium and historic courtyard

By Emma Deighan

A prime town centre residential and commercial site in Co Londonderry has gone on the market.

Set within a historic courtyard, 43-49 Rainey Street in Magherafelt has a proposed development that includes 29 apartments and 3,500 sq ft of commercial space.

Stephen Smith, surveyor at commercial property agents Osborne King, which has listed the site, expects high levels of interest.

"This is a unique town centre development opportunity in the heart of Magherafelt which once formed part of the historic Market Yard," he said.

"Full planning is in place for the development of retail units, office, community facility and apartments within the listed courtyard setting. The scheme will benefit from 15 car park spaces with additional parking available on Union Road.

"We are in the very early stages of the marketing process however initial feedback from developers has been positive and we expect this interest to continue as the marketing progresses."

And in Belfast, Osborne King is expecting over £3m for the sale of two central offices. The self-contained building on Adelaide Street covers 21,0121 sq ft and spans seven storeys.

Associate director Richard McCaig anticipates both local and UK-based interest.

"This opportunity may also be of interest to owner occupiers given its prominent location and the lack of accommodation available for sale at present," he said.

And in Donegall Quay the former Stewarts Solicitors premises is up for sale for £1.25m.

Meanwhile in Larne, the sale of Inver Park, the town's football grounds, is attracting attention from ex-pats as LA-based estate agent millionaire Kenny Bruce, who took over Larne FC last year, expressed interest in bidding.

The grounds have been listed with O'Connor Kennedy Turtle estate agents on behalf of Mid and East Antrim Borough Council.

A council spokesman said: "Mid and East Antrim Borough Council is committed to ensuring all our citizens have top class sporting facilities to enjoy throughout the borough.

"In order for council to demonstrate best value on the disposal of an asset, guidance states that the asset should be put on the open market for sale.

"The asking price is commercially sensitive. Submissions from bidders will be evaluated on price and on the proposals they have for Inver Park."

Belfast Telegraph

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