CASTLE Lane car park is up for sale with a proposed £7m project envisaged for the site.
Tenders have been sought for the project which aims to develop a prime section of the town centre.
Currently operating as a car park by the Department of Regional Development, the new owner would be expected to develop the site and ensure the future management of almost 200 public car parking spaces.
The strategy to develop the site is being led by the Craigavon Integrated Development Framework (CIDF) in conjunction with Craigavon Borough Council and the Department of Social Development.
CIDF highlighted priority projects of which Castle Lane East is one.
The area for development is focussed on Castle Lane, Windsor Avenue and Market Street. Around half a hectare is currently being used as a car park and there are adjacent buildings including a shopping centre and retail outlets.
While these other outlets are privately owned, it is hoped that a developer will work with the current owners to develop the area.
Any new developer would be asked to consider the car park in its wider context.
Though the DSD doesn’t own the adjoining property, it does have vesting powers.
“Given the likely timescales for any vesting and the costs involved, DSD will only exercise those powers as a last resort,” according to the DSD.
According to the proposal, developers must consider the appropriateness of including land other than the car park within their bid, providing evidence that they own or have the capacity to acquire all of the land which it proposes to include in any development proposal.
Two key landowners have voiced an interest in collaborating with any developer as part of an integrated development.
Bidders must have the ability to deliver development on the site but also re-provide and ensure the future management of 176 car parking spaces nine of which are nine disabled.
The Craigavon Integrated Development Framework was formally launched by DSD Minister Alex Attwood in July 2010. Commissioned by CBC in partnership with DSD, the purpose of the strategy is to guide how the three town centres of Central Craigavon, Lurgan and Portadown will develop over the next 20 years.
What do you think? Text us your views to 84555, starting your message with LMCOMMENTS, then leave a space.