Blog » The Braidwater Group reveals £450m investment plan

The Braidwater Group reveals £450m investment plan

The Braidwater Group has announced plans for a significant £450million investment in a mixed-use development.

This development is to be set on a site of c.250-acres in Derry / Londonderry and is to be known as ‘The Cashel.’

Located at lands west of Buncrana Road between Whitehouse Road and Benview Estate in Coshquin, the site is expected to provide over 3,000 new social and private properties as well as create a new urban village.

Sustainability is at the heart of the project with a central park and high street providing a hub for the new residents. The plans will also deliver schools, convenience and community facilities within the development. The ‘North-West Greenway,’ which links Derry / Londonderry with Buncrana, passes near the site and there will also be cycle routes added to the plan, providing a safe space for cyclists.

The development will also strive to be carbon neutral and to help with this there will be extensive tree planting and biodiversity measures as part of the project.

The first phase will see an initial investment of over £100million, providing a range of 800 social and private homes, with major infrastructure to be put in place for the wider side.

Around 250 construction jobs and apprenticeships will be created for the scheme at any one time.

The consultation process for the urban village will start in the coming weeks. Detailed plan are expected to be submitted to Derry City and Strabane District Council before the end of the year.

This project represents one of the most significant investments in the north-west region in recent years. It is believed the scheme would add a net increase in the number of households in the city by around 8% over the life of the project.

Braidwater Group employees and the Mayor of Derry City and Strabane District Council hold a sign saying 'The Cashel' on the proposed site of a new development in Derry Londonderry
Pictured at Skeoge roundabout with the H2 lands in the background are (L-r): Patrick McGinnis, Chief Executive Officer, Braidwater, Joe McGinnis, Managing Director, Braidwater, Vincent Bradley, Development Director, Braidwater, Cllr Brian Tierney, Mayor of Derry City and Strabane District Council and Dermot Mullan, Finance Director, Braidwater.

Vincent Bradley, development director of The Braidwater Group, said:

“We are excited to announce our plans for the largest housing development to be built in Northern Ireland in the last 10 years. This will bring a significant economic impact to the North West. The fact that this will represent an extension to our home city of Derry and that it will address an area of high housing demand makes us even more ambitious to deliver it. 

“As with all of our projects, we are bringing forward plans which encourage people who live on the site to live well, with all aspects of lifestyle catered for in a high quality and well thought out way. The development will be a new, well connected community, and we will be making a contribution of £1.5m to build in public transport linkages. We will also be contributing over £7m into the wider roads network and realigning the Coshquin and Whitehouse Road in a sensitive way.”

Mr Bradley continues: “This year has been extremely challenging for the construction sector, and it is important that we continue to drive momentum with key projects in the pipeline, such as The Cashel.  At this time, it is crucial to try and keep the economy moving forward. We will reveal further details about our planning consultation process in the weeks to come and we look forward to welcoming feedback from interested parties.”

Mayor of Derry City and Strabane District Council Cllr Brian Tierney welcomed the news of the planned investment for the area:

“This is excellent news for the city and district and a significant financial investment and commitment by a local company. As a Council, we set out very clearly in our Strategic Growth Plan and our draft Local Development Plan, how we will be proactively encouraging private investment and growth across our region.”

Mr Tierney added: “The Council recognises the need for quality mixed-use housing with supporting community facilities within the district and the need for significant investment to make the Derry City and Strabane District Council area an attractive place to live, work and study.”

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