Apartments give Portrush £3m boost as Open looms
The regeneration of Portrush is being boosted by a cash injection of nearly £3m for new apartments from a peer-to-peer funder.
More than 20 apartments costing up to £395,000 with accompanying retail space are being built ahead of the start of The Open tournament, which comes to Royal Portrush Golf Club next year.
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Assetz Capital has now provided funding of £2.8m for the apartments, which are being built by MAM Group.
The two and three-bed flats will be priced from £139,950 to £395,000.
It's the latest development for the town after Andras launched revised plans for its revamp of the derelict Londonderry Hotel.
And US developer Arc Investing wants to build the Dunluce Resort and Spa outside the town.
Darrel McCauley of MAM Group said demand had been strong for the apartments, with 10 already booked off-plan.
"It's tremendous to see the vacant site come to life again and we are excited to see the building completed before The Open in 2019," he said.
"Coastal Links Apartments offers residents stylish and affordable apartments in the very heart of Portrush.
"The team at Assetz Capital and Lindsay Commercial Finance helped us every step of the way in securing funding for this project, and their knowledge and understanding of the development sector was second to none."
Andrew Fraser, who is relationship director for Assetz Capital in Northern Ireland, commented: "MAM Group have done well to ensure that the new development ties in with the local streetscape of Portrush. The town centre is undergoing significant regeneration prior to the British Open, and the Coastal Links Apartments are certainly fitting with this initiative.
"We are pleased to support MAM with this project, and it is fantastic to see further construction job creation in this area."
Other work is being carried out to improve the town before The Open, including a public realm scheme and regeneration of Portrush Railway Station.
The Department for Communities has also approved £500,000 to revitalise frontages of businesses in the town centre. The Open was last held in Portrush in 1951.