The McCay Legal Team welcomes the recent but significant investments into Derry/L’Derry and the surrounding areas, such as Strabane, including both milestone technological and infrastructure advancements. Derry/L’Derry has long been known for its vibrancy, culture, and historical background, but with these important investments on the horizon, Derry/L’Derry is set to enter a new transformative stage as a dynamic business hub and trade route, making it an unrivalled competitor with untapped potential to attract even the largest global companies and investors to its doors.
The signing of the City Deal financials on the 18th of September is an ambitious investment that will have a revolutionary effect on the commerce of Derry/L’Derry and the surrounding areas. The circa £300 million investment package will open doors to business development across the North West, driving growth and innovation and creating opportunities that, until now, would not have been possible. This vital investment in the North West will have far-reaching benefits, making Derry/L’Derry a major player on the global platform and creating worldwide connectivity.
The A5 announcement is a fundamental and extremely significant advancement that has been strongly advocated for over many years, not only for economic reasons but, more importantly, for the safety of road users. These works will save lives on this treacherous roadway. Work is set to begin on the A5 in early 2025, and this will also strengthen Derry/L’Derry’s economic position. All-Ireland trade is going from strength to strength, and border Business Chambers, together with organizations like InterTrade Ireland, continue to make impressive strides to connect, innovate, collaborate, and attract investment, increasing significant market opportunities. To put matters into perspective, in 2024, cross-border trade in goods between January and April was €1.7 billion from North to South and €1.6 billion from South to North, according to the Central Statistics Office.
Technological and renewable energy advancements are also high on the agenda. The new data centre planned for Derry/L’Derry is set to attract some of the largest global companies and investors. “Atlantic Hub” has been granted planning permission for a large data centre at the Campus development at the Foyle Port Innovation Park, Maydown. Planning is also underway for a sister data centre in Donegal. These data centres will tap into renewable energy sources and are strategically positioned to be a digital gateway to North America, Europe, Ireland, and the U.K. This data centre represents one of the largest phased infrastructure developments ever undertaken in the North West region. Once fully operational, this data centre will offer 100MW of power and connection to a world-class facility powered by certified renewable sources—a complete game-changer for this region with phenomenal potential.
With the growing importance of Northern Ireland and its integral border with the European market via the M1 Corridor, and soon to include the improved A5 Corridor, the implications of Brexit have made strong business links and contacts in an all-Ireland approach more significant than ever, both for business development and political agendas. It is becoming increasingly important for businesses in both NI and ROI to have a business strategy that delivers on all fronts. For example, with the uncertainty following Brexit, many businesses have already begun forward-planning by leasing or buying offices in the North with operational distribution bases in the South. Our clients’ requirements across the board are becoming increasingly diverse, complex, and cross-jurisdictional, requiring us, as professionals, to upskill rather than outsource the work.
McCay Legal has worked hard to bolster its already impressive legal team in anticipation of these significant, long-awaited investments. We have put in place a strong and experienced commercial team, which has worked in major commercial transactions for many top players in the business world over the past twenty-plus years. McCay Legal relishes the opportunity to position Derry/L’Derry as a frontrunner in this new evolution, being able to offer the North West, international and global businesses, and of course, our existing clients, first-class service for all their commercial and corporate needs, providing seamless service delivery across NI, ROI, and England and Wales.
We look forward to working with you in the common goal of making the North West a dominant location for business excellence. With a growing local economy, a city airport, and student numbers at Ulster University set to rise to 10,000 by 2032, the opportunities are limitless. It is no longer the case that commercial services of this calibre can only be obtained in Belfast or Dublin; they are now ready and available right on your doorstep.
For all your commercial needs, please contact the office to discuss with a member of our legal team.
Tel; 02871 371705
Written by Sinead Creighan – Director Of Commercial Property, Real Estate and Private Client