The release of a new warehouse development at The Outlet Business Park has been hailed as “great news that will lead to future investment and job creation in the Banbridge area.”
County Down property company, The Louts Group, this week announced the release of the site for a 100,000 sq ft distribution unit.
“The land, which is around five acres in size, has been put on the open market due to the surge in demand for prime industrial units in the area and a significant number of development enquiries received by The Lotus Group and the jointly appointed agents Colliers and GVA from their clients across Ireland,” a spokesperson explained.
The site, which has full planning permission, will allow the successful bidder to be able to develop the unit to their bespoke specification, with The Lotus Group maintaining responsibility for the design, build, letting or sale of the completed facility.
Commenting on the demand, Alastair Coulson, Asset and Property Management Director with The Lotus Group, said: “We’re directly responding to a marked increase in demand for industrial development opportunities - particularly in the Banbridge area. This surge began around six months ago and of particular significance is the level of enquiries coming from the Republic of Ireland.
“The prime location of the site on the main route from Belfast to Dublin offers many benefits in terms of cross border accessibility, combined with a skilled workforce, and a range of government support packages that we know are available. Ultimately, locating in Banbridge could offer businesses that are based over the border in the Republic like-for-like savings in excess of circa 15 per cent.”
He added: “This is also great news for the Banbridge area as a whole and will lead to future investment and job creation.”
Welcoming the release of the site, Upper Bann MLA Jo-Anne Dobson said: “Any move which helps to increase jobs and investment in the town is to be warmly welcomed.
“The Outlet Business Park has always had the potential to act as a magnet attracting people to Banbridge as a town of choice to visit and in which to do business.
“I commend The Lotus Group on their work to increase employment opportunities and investment in the district which will lead to an effective mix between our well-established local businesses alongside new businesses at The Outlet Business Park.”