Latest news with #InnerCityTrust
Yahoo
10-06-2025
- Business
- Yahoo
£10m Derry regeneration funding gets minister's approval
A multi-million pound fund to help regenerate Londonderry's historic city centre has been approved by Stormont's communities minister. The North West Regeneration Fund – worth up to £10m over the next five years – will provide government loans for the regeneration of buildings within the city's walls. The fund will be delivered by Derry's Inner City Trust, and has a specific focus on projects that the private sector does not see as commercially viable. Minister Gordon Lyons said the fund "will make a "significant contribution" to the city's regeneration. Lyons said it will be used to revitalise "strategic properties within the Historic City Conservation Area". He said it is "an exciting time for the city" with a number of key projects under way, including the expansion of the university, public realm works, the City Deal and redevelopment of the Fort George site. "All of these interventions are serving to enhance the city," Lyons said. The Inner City Trust works to inject commercial and social life into Derry's city centre. Archdeacon Robert Miller chair of the trust, said the funding's approval is "a transformative moment for our city". "This investment will breathe new life into the heart of Derry, strengthening our heritage, supporting our economy, and ensuring our built environment serves the needs of future generations," he said. Foyle SDLP MP Column Eastwood said the fund "actually has the potential to transform public spaces and do real, visible good for Derry". Sinn Féin MLA Ciara Ferguson also welcomed the funding, adding it "will make the city a more attractive and vibrant place to live, work and socialise". DUP assembly member Gary Middleton said the funding is "a testament to our commitment to preserving our heritage while injecting new life and economic opportunity into our city centre". Earlier this year, the Department of Communities provided a grant of more than £1m to allow the Inner City Trust to complete the purchase of the former Austins department store in Derry. What next for store that once dominated city?
BBC News
10-06-2025
- Business
- BBC News
Londonderry regeneration funding gets minister's approval
A multi-million pound fund to help regenerate Londonderry's historic city centre has been approved by Stormont's communities North West Regeneration Fund – worth up to £10m over the next five years – will provide government loans for the regeneration of buildings within the city's fund will be delivered by Derry's Inner City Trust, and has a specific focus on projects that the private sector does not see as commercially Gordon Lyons said the fund "will make a "significant contribution" to the city's regeneration. Lyons said it will be used to revitalise "strategic properties within the Historic City Conservation Area".He said it is "an exciting time for the city" with a number of key projects under way, including the expansion of the university, public realm works, the City Deal and redevelopment of the Fort George site."All of these interventions are serving to enhance the city," Lyons said. The Inner City Trust works to inject commercial and social life into Derry's city Robert Miller chair of the trust, said the funding's approval is "a transformative moment for our city"."This investment will breathe new life into the heart of Derry, strengthening our heritage, supporting our economy, and ensuring our built environment serves the needs of future generations," he said. 'Visible good for Derry' Foyle SDLP MP Column Eastwood said the fund "actually has the potential to transform public spaces and do real, visible good for Derry".Sinn Féin MLA Ciara Ferguson also welcomed the funding, adding it "will make the city a more attractive and vibrant place to live, work and socialise".DUP assembly member Gary Middleton said the funding is "a testament to our commitment to preserving our heritage while injecting new life and economic opportunity into our city centre". Earlier this year, the Department of Communities provided a grant of more than £1m to allow the Inner City Trust to complete the purchase of the former Austins department store in Derry.
Yahoo
09-03-2025
- Business
- Yahoo
What next for store that once dominated city?
In the heart of Londonderry, on a prime city centre corner, stands the building once home to the world's oldest independent department store. In 1830 - some 20 years before Harrods of London began trading and more than a quarter of a century before Macy's of New York opened its doors - Thomas Austin came to Derry and opened a drapery shop on a city centre corner. Over the next 180 years Austins would become synonymous with shopping in Derry. Since the shutters came down in 2016, the grand building has lain empty – now that is set to change. On Wednesday Communities Minister Gordon Lyons said a grant of £1.2m from his department would allow Derry's Inner City Trust to complete the purchase of the building. So what next for the former department store building? "Well that's the question isn't it?," the Venerable Robert Miller, chairman of the trust, told BBC Radio Foyle. "Nothing is ruled out or ruled in. We have saved a building, we have rescued it, now the next stage is to work to revitalising it." Spread over five storeys and 25,000 sq ft, the Austins building dominates its corner of the Diamond. For generations it dominated the city's retail landscape too. Archdeacon Miller said it was a building people in Derry feel an affinity with. Liz Doherty remembers school day lemon meringue pies in Austins café and trips to see her cousin who worked in the ladies fashion department for more than 30 years. When Austins was in its heyday, she loved "the style of the building, the ladies fashion, the old radiators and the staircase". "It had a beautiful atmosphere, it was so different to anywhere else. Whatever they decide to do next, like maybe a hotel, I hope they keep its old structure," she told BBC News NI. "It really is a fantastic building, with such a sense of history to it." Conor Green owns a coffee shop close to the building and told BBC News NI it has been empty for far too long. "Whatever goes in there, I hope helps attract a lot more people, a lot more businesses into the city centre," he said. He wants the old department store to be given a new lease of life. "I'm thinking restaurants, cafés, maybe even a cinema," he said. "Things that will draw people in and where they can enjoy themselves." Archdeacon Miller said the trust knows how important the building is to the city. "We are all mindful everyone is watching… that's good, whatever goes into it will encourage wider growth and development," he said. Founded in the 1970s, with the then-Church of Ireland Bishop of Derry James Mehaffey and Catholic Bishop of Derry Edward Daly among its founding trustees, the Inner City Trust was designed to inject commercial and social life into the city centre after a decade of the Troubles. It has, in the decades since, developed some of the city's most recognisable buildings, including the Tower Museum, the Tower Hotel, the Bishop's Gate Hotel. "One of our principles at the Inner City Trust is to diversify our portfolio to ensure risk is mitigated as much as possible. "But obviously it needs to be commercially productive…and benefit the community," Archdeacon Miller said, adding that work would begin almost straight away. "The first element of it is stabilising the building, that gives us time in our conversations as to what might come next, on the next chapter because that will affect what it looks like inside," he said. "It is not a case of saying 'who would like to come?' It is much more strategic than that." As shopping habits changed in the early part of the new century, Austins came under pressure, posting significant losses in 2011 and 2012. In November 2014 the listed building was sold to the City Hotel Group. The receiver then sold the trading side of the business. When it closed in 2016 more than 50 workers lost their jobs. Conservation architect Karl Pedersen told BBC Radio Foyle's Mark Patterson Show the challenge that lay ahead was a "joyful one". The building, he added, had been "caught just in the nick of time". "There is a lot of the detail we will be able to restore and salvage and preserve," he said. Stormont to fund purchase of Austins building Austins staff 'devastated' at job losses
BBC News
09-03-2025
- Business
- BBC News
Austins: What next for former department store in Londonderry?
In the heart of Londonderry, on a prime city centre corner, stands the building once home to the world's oldest independent department 1830 - some 20 years before Harrods of London began trading and more than a quarter of a century before Macy's of New York opened its doors - Thomas Austin came to Derry and opened a drapery shop on a city centre the next 180 years Austins would become synonymous with shopping in the shutters came down in 2016, the grand building has lain empty – now that is set to change. On Wednesday Communities Minister Gordon Lyons said a grant of £1.2m from his department would allow Derry's Inner City Trust to complete the purchase of the building. So what next for the former department store building?"Well that's the question isn't it?," the Venerable Robert Miller, chairman of the trust, told BBC Radio Foyle."Nothing is ruled out or ruled in. We have saved a building, we have rescued it, now the next stage is to work to revitalising it."Spread over five storeys and 25,000 sq ft, the Austins building dominates its corner of the generations it dominated the city's retail landscape Miller said it was a building people in Derry feel an affinity with. Liz Doherty remembers school day lemon meringue pies in Austins café and trips to see her cousin who worked in the ladies fashion department for more than 30 Austins was in its heyday, she loved "the style of the building, the ladies fashion, the old radiators and the staircase"."It had a beautiful atmosphere, it was so different to anywhere else. Whatever they decide to do next, like maybe a hotel, I hope they keep its old structure," she told BBC News NI."It really is a fantastic building, with such a sense of history to it." Conor Green owns a coffee shop close to the building and told BBC News NI it has been empty for far too long."Whatever goes in there, I hope helps attract a lot more people, a lot more businesses into the city centre," he wants the old department store to be given a new lease of life."I'm thinking restaurants, cafés, maybe even a cinema," he said."Things that will draw people in and where they can enjoy themselves." Archdeacon Miller said the trust knows how important the building is to the city."We are all mindful everyone is watching… that's good, whatever goes into it will encourage wider growth and development," he said. What is the Inner City Trust? Founded in the 1970s, with the then-Church of Ireland Bishop of Derry James Mehaffey and Catholic Bishop of Derry Edward Daly among its founding trustees, the Inner City Trust was designed to inject commercial and social life into the city centre after a decade of the has, in the decades since, developed some of the city's most recognisable buildings, including the Tower Museum, the Tower Hotel, the Bishop's Gate Hotel."One of our principles at the Inner City Trust is to diversify our portfolio to ensure risk is mitigated as much as possible. "But obviously it needs to be commercially productive…and benefit the community," Archdeacon Miller said, adding that work would begin almost straight away."The first element of it is stabilising the building, that gives us time in our conversations as to what might come next, on the next chapter because that will affect what it looks like inside," he said."It is not a case of saying 'who would like to come?' It is much more strategic than that." As shopping habits changed in the early part of the new century, Austins came under pressure, posting significant losses in 2011 and November 2014 the listed building was sold to the City Hotel receiver then sold the trading side of the it closed in 2016 more than 50 workers lost their jobs. Conservation architect Karl Pedersen told BBC Radio Foyle's Mark Patterson Show the challenge that lay ahead was a "joyful one".The building, he added, had been "caught just in the nick of time"."There is a lot of the detail we will be able to restore and salvage and preserve," he said.
Yahoo
05-03-2025
- Business
- Yahoo
Stormont to fund purchase of Austins building
A former department store in Londonderry that traded for more than 180 years before its closure is to be bought and redeveloped with more than £1m of government funding. Austins closed in 2016 after going into liquidation. The business began in 1830 when Thomas Austin came to Derry, opening a drapery shop in the corner of the Diamond. Communities Minister Gordon Lyons said a grant of £1.2m from his department would allow Derry's Inner City Trust to complete the purchase of the building. "The investment of £1.2m is the first step in the regeneration of this iconic building located at the heart of the Historic Conservation Area," Lyons said. The future of the 188-year-old building has been the focus of much debate since its closure. In November 2014 the listed building was sold to the City Hotel Group. The receiver then sold the trading side of the business. More than 50 workers lost their jobs when it closed in 2016. In 2023 a taskforce was set up by Derry City and Strabane District Council to work with the owners to safeguard the buildings future. The Inner City Trust works to inject commercial and social life into Derry's city centre. Rev Robert Miller, chair of the trust, said the funding announcement marked a significant step forward in the rescue and revitalisation of one of the city's most iconic buildings. "This restoration will not only breathe new life into an important historic building but will also strengthen the Department for Communities' Public Realm Scheme and the transformative ambitions of the Derry City and Strabane District Council's City Deal," he said. "It sends a clear message of confidence to other investors that our city is a place of progress, innovation and opportunity." Derry's built heritage, the trust chair said, was "a cornerstone of our identity". SDLP councillor John Boyle, a member of the council's taskforce, said: "It will be an enormous undertaking to breathe life back into the Austin's building, but I am confident that the Inner City Trust, with their track record, are well placed to take the next steps to achieve that goal." Former BBC Radio Ulster presenter Wendy Austin told Evening Extra that her family were "lucky enough to build the beautiful old building". "It's a bit like one of those expensive watches, you don't really own them just a curator for the next generation perhaps." Alongside the rest of her family, she said she "could not have been more delighted" with the news of the investment. "The worry was something really awful would happen to it," she said. "It dominates the Diamond.. and it will contribute to bringing that part of Derry up which will be super." Foyle assembly member Gary Middleton said the investment represented a "significant step towards restoring the vibrancy of the city centre". "This will not only restore a crucial piece of Londonderry's heritage but also provide a tangible opportunity for further investment in the area", he added. Austins staff 'devastated' at job losses 53 jobs go as Austins store closes doors
