Local Economic Partnership Investment in Commercial Property Revitalisation

Newry, Mourne and Down District Council has welcomed the approval of successful applications submitted to the Local Economic Partnership Revive and Reimagine Commercial Property grant scheme.

The investment programme is funded by the Department for the Economy through the Local Economic Partnership (LEP) Regional Balance Fund, to transform vacant and derelict buildings in towns and villages across the district.

The funding will support property owner and developers to restore and/or expand vacant, derelict or underused properties into high quality commercial spaces, with the financial support part of a wider programme of investment aimed at supporting economic growth, increasing productivity, creating good jobs, addressing regional imbalance and support decarbonisation across the district.

Capital grants were available from £50,000 up to a maximum of £200,000. Confirmation of the Letter of Offers for successful applications came at a meeting of Newry, Mourne and Down District Council’s Economy, Regeneration and Tourism Committee on 12 October, with communication to applicants to be issued mid-November following formal ratification at Council meeting on 2 November and Council call in protocols.

LEPs are central to the Department for the Economy’s commitment to improve regional balance, support collaborative working and empower local areas to shape their own economic future.

The Newry, Mourne and Down LEP prioritised this scheme, recognising the need to transform commercial centres across the district by breathing new life into vacant buildings, acting as a catalyst for additional investment, driving further economic growth and job creation.