Ramparts Development Scheme

Fermac Awarded Major Regeneration Scheme in Coleraine

18th October 2007

Fermac Properties, the Derry based development and investment company, has been nominated as the selected developer for the £100M Ramparts Development Scheme in Coleraine Town Centre.

Fermac, who are known locally as the developers behind the Millennium Forum and the B&Q/Tesco scheme on the Buncrana Road in Derry, were nominated by the DSD Minister, Margaret Richie, at a ceremony in Coleraine on Wednesday.  The site comprises the DSD Mall Car Park in Coleraine Town Centre of circa 1.5 acres, together with additional lands assembled by Fermac, alongside.  The total site area is 3.6 acres.

The proposed scheme will deliver 190,000sqft of retail space, 103 apartments, 7,000sqft of office space and approximately 900 parking spaces .

“We are very pleased to have been nominated as preferred developer” stated Gerry Fearon, Managing Director of Fermac, “ We can now marry the DSD Car Park Site with our own lands, to create a superb town centre regeneration scheme, on a par with any other town centre scheme in Ireland”.

Margaret Ritchie says the development has the potential to “deliver real regeneration and influence the way the town develops over the next 25 years” while Coleraine’s Mayor Maurice Bradley believes it could “substantially enhance Coleraine’s competitiveness as a regional town for may years to come.”