A block of unsightly derelict properties on one of Lurgan’s busiest streets has hit the market with approval for redevelopment… with “substantial” grant aid assistance to boot.
Property and lands at 51 William Street – situated close to Lurgan Train Station and the town’s main shopping streets – has been listed for sale as one or two lots at offers over £400,000.
The site made headlines in March of this year after one of the street facing buildings became unstable during renovation works.
Plans were then submitted in the name of Mr Thomas French in April for the “urgent” demolition and reinstatement of the building – this application was then subsequently withdrawn.
Under the agency of Simon Brien Bradley, the site is now being offered for sale, described as suitable for an “array of development opportunities” with full planning permission granted in 2023 for seven apartments approved for lot one.
Lot two also boasts potential for three apartments or commercial unit, according to the agent.
Priced separately, the first lot comprising planning permission for four two-bedroom apartments and three two-bedroom tourist or short-term rental apartments is listed with a guide of £325,000.
The second lot with outline planning permission for three two-bedroom apartments has a guide price of £125,000.
It is also the agent’s understanding that the development has qualified for “substantial” Heritage Lottery Funding.
Said Simon Brien Bradley: “We understand from Lurgan Townscape Heritage Scheme that there are substantial grants available for the redevelopment of these four properties.
“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.”
Interested parties should contact Simon Brien Bradley directly for more information.
