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Richmond Street, Londonderry

Volume 974: debated on Tuesday 27 November 1979

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asked the Secretary of State for Northern Ireland (1) what is now the estimated cost of the Richmond Street scheme in Londonderry; and on this basis what are the economic rental values for (a) retail shops and (b) offices;(2) when he now expects work to begin on the Richmond Street development scheme in Londonderry.

[pursuant to his reply, 19 November 1979, c. 80]: The estimated cost of the scheme on completion and taking into account notional interest on capital employed during construction is £11·5 million. Present market levels would produce annual rentals of:

  • (a) approximately £450,000 for the retail shops, and
  • (b) approximately £130,000 for the offices.
  • The scheme is still under consideration in the light of these figures and the constraints upon public expenditure.