PLANNING approval has been granted for a multi-million pound mini-village in the middle of Moortown.
A supermarket, restaurant, four shops and 36 houses are just some of the plans for the development.
It is currently owned by Phil Devlin, a farmer who lives nearby who has been working towards getting planning permission for the development for more than two years.
Now the five-acre plot at Anneeter Road is on the market with full planning permission and already there has been interest from developers across the island of Ireland.
The site, not far from the shores of Lough Neagh and the Battery, is to house 10 detached homes, 12 semi-detached, 11 town houses and three apartments.
The apartments are to be above the retail units which will have a supermarket and a first floor restaurant. There will be three additional shops and a site road.
According to the planning application at Council on Tuesday night, there were no objections to the development.
And the estate agent dealing with the sale of the development believes it could be sold for almost £1m before any houses are even built with great interest being shown in the ambitious plans already.
Magherafelt-based Gerard Graham said when the houses are built and - with an average value of around £120,000 - the finished site could be worth more than £5m.
Mr Devlin said he had been working on the project for a couple of years. “It was no epiphany,” he said.
He added that people had suggested retail units initially as it was so central and it had developed from there.
Mr Graham who is managing the sale, said: “Along with a number of consultants, we have been busy working on this particular site for some time and have received significant enquires province-wide.
“The majority of parties who have registered interest are waiting for the full planning permission to be confirmed. It is one of the few sites in the province with an ambitious plan for it.
“When the proposed development of the site is complete it will transform the Moortown area. We plan to market the site for the next few months with the aim of then putting a closing date on it.
“As the economy moves towards a period of recovery we are expecting to agree a sale close to the figure of £1m,” he said.