The former Seagate factory outside Limavady has been sold to a consortium of businessman, some of whom are local, the ‘Journal’ can exclusively reveal.
The massive 16.8 acre site was put on the market this year after Limavady Gear Company (LGC) went into administration. Prior to LGC taking possession, the Dowland Road site had lay vacant since Seagate vacated the plant in 2008. The guide price for the huge property was £1.3 million, according to BTW Shiells, who was the selling agent.
A spokesperson for the company ‘Tuxan’ told the ‘Journal’ this week they didn’t want to see the building to be sold for scrap, which he said was the desire of one opposing bidder.
“A group of us got together to purchase the property for various reasons. We have a wealth of experience and excellent business acumen,” he said. “We will be looking to Limavady Borough Council for support and, of course, we have excellent graduates coming out of the North West Regional College. We are well placed in Limavady being in close proximity to the airport, and good road infrastructure,” said the spokesperson.
“We want to give local entrepreneurs and indigenous businesses the chance to develop. Right now few can afford to pay the exorbitant rents, especially here in Limavady, so we want to encourage them to use the facility. We don’t want these fly-by-night companies who disappear. We want people to stay here; indigenous companies run by local business people creating jobs.”
The spokesperson said the company expects to take possession some time in September.
“There are a few loose ends to tie up,” he said, adding they are “very optimistic” they will attract high class tenants able to deliver well paid jobs.
“We are not a charity but we we will give entrepreneurs, not just from Limavady, but from all of Northern Ireland, the chance to set up their own business with small rents which we believe will regenerate the local economy.”
The spokesperson said anyone who wanted to enquire about the venture should call 07764512571 or 07801012251.