Office Accommodation Fund
All cities need to retain existing businesses and attract new businesses and investment to thrive. Research indicates Newry has limited office accommodation of significant scale and of a sufficient quality, and historically may have been overlooked for inward business investment. To encourage inward investment, significant new office space of a sufficiently high standard is required.
Newry, Mourne and Down District Council secured £3 million through the Belfast Region City Deal for a ‘Grade A Office Accommodation’ fund, and we intend to use this fund to motivate the private sector to invest in the development of new office space within the City core.
The Office Accommodation Fund will enable us as a Council to lever private sector investment, create additional space for business to invest and expand, create new employment opportunities, and contribute to urban renewal and improvements. Alongside the wider regeneration programme proposals, the fund will help promote Newry as a location to visit and invest.
The Grade A Office Accommodation fund is anticipated as a long-term fund for gradual drawdown from interested businesses and developers over the next 10 years.