Work has commenced on a 1,750 square metre project to develop new light industrial business premises at Bridgewater Park.
Designed to be flexible, the development will be available as either seven individual units or one large, single space. The units will be a valuable addition to the Banbridge-based Lotus Group portfolio.
The units are located to the rear of the new Tesco store currently being built at Bridgewater.
They will be marketed to firms involved in sectors ranging from light manufacturing to trade counter sales.
Speaking at a sod-cutting ceremony to mark the beginning of construction, Chris Mundow, Group Development Director with Lotus Group said: “Bridgewater Park with its proximity to the A1 and Banbridge town centre is a natural focal point for new business opportunities for the area. The proposed units will provide a natural balance to the new retail developments being constructed at Bridgewater and should appeal to a wide range of businesses.
“In total we have approximately 20 acres available for business development at Bridgewater. The new units represent the first phase in a long-term plan to create a significant business park that will appeal to both local firms and potential inward investors.”
Also attending the sod-cutting ceremony were local councillors, Jim McElroy and Seamus Doyle. Mr Doyle said: “This is more good news for the Banbridge area, coming on the back of work starting on the new Tesco store and plans to revitalize the Outlet.
“Bridgewater Park is a major asset for the local economy and I am hopeful that these new industrial units will provide employment opportunities in manufacturing and other trades that will complement the large number of retail jobs already being created nearby.”
Mr McElroy added: “With easy access to Belfast, Newry and beyond, Bridgewater has the potential to be a major centre of economic activity - developing these units should be seen as the first step in that process.
“By Northern Ireland’s standards, Banbridge has a strong and successful economy, but we need to develop new opportunities and widen the mix of businesses operating in the area.
“By doing so, we can create new jobs and support greater prosperity.”
Construction of the new units, which will be available for either lease or sale, is being undertaken by Armagh firm, Moss Construction. Work on the new units is expected to be substantially completed by the autumn.