The 19-year-old impressed during Derry's friendly win at Cliftonville on Monday night when the midfielder was playing as a trialist for the Reds.
"I seen enough in half an hour, never mind 90 minutes against us to be impressed by him," insisted Higgins.
"We were talking about him immediately after the game. He's a young midfield player and a type of player I like.
"He's a deep laying playmaker who gets on the ball by taking it off the back four and starts attacks, he has a lovely range of passing and is a really good footballer.
"Gerard is a type of player that's dying out of the game a bit and I think he'll be a really good player for the club but we also need to be patient, as you do with a lot young players, who have comeback from England.
"There's big potential with Gerard and we realise his qualities hence why we made the move to bring him here."
As for Storey, who conceded that he spoke to former Derry City striker and ex-Portsmouth team-mate Ronan Curtis prior to completing his switch to the Brandywell, he can't wait to get up and running with his new club.
"Everything moved very quickly but after I spoke to Ruaidhri and Paddy (McCourt) it was a no brainer for myself and I just can't wait to in and start to learn things off Ruaidhri and Paddy," admitted the Belfast teenager.
"I know myself I have a lot still to progress in my own personal performances but I know that Ruaidhri and Paddy will get the best out of me.
"I'm over the moon to be here as Derry is a massive club and they have massive ambitions the same ambitions as myself.
"Along with Cliftonville there were also a few other clubs after me, but as I said once I spoke to Ruaidhri and Paddy it was a no brainer as I feel they can get the best out of me.
"I want to hit the ground running and although I'm 19, I have been around mens football since 16 when I was at Portadown, so I have always been around senior football so it's not something that I'm only coming into. I made my first team debut with Portsmouth just last Christmas, so look I want to come here and hit the ground running."