Room Measurements

DEVELOPMENT OPPORTUNITY SITE WITH FULL PLANNING, L

WHAT'S ON OFFER

Significant road frontage allows for an array of development opportunities. Site extending to 0.4 acres in 1 or more lots. Lot 1: FPP 7 Apartments Lot 2: Potential for 3 Apartments/ Commercial Unit (Site Qualifies For Grant Aid Assistance)

LOCATION

The property is situated on the lively William Street in Lurgan, next to Wesley Place car park. Lurgan is a town in Co Armagh and is situated near the southern shore of Lough Neagh. It is located approximately 25 miles south west of Belfast and can be easily accessed via the M1 Motorway. William Street forms part of the main route from Lurgan town centre to the M1 Motorway. Surrounding occupiers include Spar, William Street Veterinary Clinic and Take 30 Fitness Centre. Lurgan Train Station is only a two minute walk away.

DESCRIPTION

This Development site is ideally situated in center of Lurgan. It benefits from a prime location, surrounded by many retail businesses, cafes, and local amenities. Convenient access to public transportation and ample parking options make it easily accessible for both locals and visitors. The site is available in 1 or 2 Lots. The property comprises four derelict buildings and a site to the rear which has access off North Street. The buildings are currently in disrepair allowing a developer the opportunity to fully redevelop this site. The properties are arranged across ground, first and second floors and are of traditional construction. We understand from Lurgan Townscape Heritage Scheme that there are substantial grants available for the redevelopment of these four properties. This property has qualified for Substantial Heritage Lottery Funding. The change of use has been passed for 3 no. properties to 4 no. residential apartments and 3 no. tourism apartments, partial demolition and alteration to the premises including two first floor balconies to the rear of the buildings; provision of dedicated parking and amenity place and other associated site works

LOT 1

FPP available for 7 Units at 47,49 and 51 William Street C. 0.15 Acre 4 x 2bed Residential Apartments 3 x 2bed Tourist/Short Term Rental Apartments Guide Price £325,000

LOT 2

OPP for 3 Units at 45 William Street C. 0.2 Acre 3 x 2Bed Apartments Guide Price £125,000

ENTIRE SITE

Offers over £400,000

AVAILABLE GRANTS

From October 2018 an offer of £1.935,000 was made to the Council by the then Heritage Lottery Fund, now renamed The National Lottery Heritage Fund (NLHF), to deliver the Lurgan Townscape Heritage scheme within the Lurgan Conservation Area. This offer was accepted and permission to start was agreed in December 2018. The total value of the scheme is forecast to be £6,700,147. The additional funds being make up with match funding of £2,002,852 from Council funds, £2,162,295 from property owners, with any shortfall coming from other public funds. The funding package will support the restoration of up to 25 key buildings within the Conservation Area, bringing floor space back into commercial and residential use, complementing other existing and planned developments within the conservation area in Lurgan. Only these 25 key buildings can receive a grant from the Lurgan Townscape Heritage scheme and the buildings from 45 to 51 William Street have been identified as four of these key properties. As such, any eligible regeneration scheme/works will be supported at the agreed grant intervention rates.

VIEWING DETAILS/ FURTHER INFORMATION

For further information or to arrange a viewing, please contact: Stephen Gray, Manager - Commercial Property T: 028 300 50633 E: stephen.gray@bradleyni.com