Invest NI puts £3million into land acquisition to secure investment in Armagh
Invest Northern Ireland has secured a 10 acre site in Armagh as part of a £3million project to support future investment opportunities in the region.
The site at Edenaveys is the first to be purchased as part of Invest NI’s land acquisition strategy which aims to secure industrial land in four priority areas across Northern Ireland.
Mel Chittock, Invest NI’s Managing Director of Corporate Services says: “The 10.17 acre site in Armagh will offer high quality property solutions to client companies with strong growth plans in the medium to long term.
“In recent years, Invest NI’s limited property portfolio experienced high demand from locally owned firms and new inward investors with viable growth plans. Although such demand has decreased slightly as some investors are deferring investment plans in the short term until the economic landscape improves, land acquisition remains strategically important. It is crucial to have a sufficient supply of high quality serviced sites available to accommodate future investment opportunities.
“The acquisition process can take considerable time due to necessary technical, environmental, planning and legal processes. This is then followed by integral infrastructure works to provide roads access and utilities. With the purchase of the Armagh site now complete, we expect to begin works in August with a view to having sites available for sale or lease from April 2010. Progress on the remaining areas identified in the first phase of our acquisition strategy continues on target.”
Armagh City and District Council Mayor, Noel Sheridan, welcomed the announcement saying: “When Invest NI announced the four priority areas for land acquisition, we were delighted that the Armagh City and District would stand to benefit from new industrial land being opened up.
“Now a substantial site has been purchased, we look forward to working even more closely with Invest NI to promote the Edenaveys site and secure new investment opportunities that will deliver major benefits to the Armagh region and the wider economy.”