Magherafelt’s historic Market Yard could soon get a new lease of life if plans for a regeneration project get the green light.
Market Yard (NI) Ltd is hoping to breathe new life into the old buildings with proposed plans for the new Market Yard Lofts, while Genmark Developments Ltd is gearing up to the construction of its plans for Salters Court, just across the road on Rainey Street.
Mixed use schemes, which will be residentially led - have been designed to bring a bit of life back into the town centre, while regenerating a key and historical part of it a spokesperson for Market Yard said.
Genmark Development secured planning permission in January for their scheme, which it is due to start later this year.
And, since acquiring the old Market Yard in late 2012, Market Yard Ltd, restored the listed boundary wall in 2016 and this year submitted a planning application for upgrade works.
Based on regenerating and restoring the listed buildings in the heart of the town, the company’s proposal also aims to safeguard its built heritage while reacting to market demand.
Ground floor cottage style retail units are planned for the main listed building, with high quality cosmopolitan loft style living within a court yard setting.
Speaking on behalf of Market Yard Ltd, Declan O’Neill said: “In addition to enhancing the retail offering, this scheme is predicated on supporting existing town centre retailers by creating a nucleus of residents, boosting the night time economy as well as address an acute shortage of affordable quality town centre living.
“We are keen to leave a legacy and have carefully designed the scheme to remain sympathetic while preserving the historic nature and architectural integrity of listed structures of the site.
“We anticipate that permission will be granted summer 2017 and are keen to mobilise and develop promptly thereafter.”