Business

LCC’s property arm launches bid for new student accommodation scheme in Derry City

Proposal for new PBMSA development on vacant Strand Road site

The vacant site on Derry’s Strand Road, which could be redeveloped into a major student accommodation scheme.
The vacant site on Derry’s Strand Road, which could be redeveloped into a major student accommodation scheme. (Google)
By Ryan McAleer

The property and investment arm of Co Tyrone fuel group LCC has launched a bid to construct a new student accommodation scheme in Derry City.

LCC Properties and Investments Limited has notified Derry City and Strabane District Council of its plans for a purpose-built managed student accommodation (PBMSA) scheme on the Strand Road.

The company is owned by LCC Asset Holdings, the Isle of Man domiciled parent entity for the Loughran family’s Cookstown-based oil, coal, energy and logistics group.

A proposal of application notice, required for all major planning applications, indicates the development would comprise ‘clusters and studios’, and include landscaped courtyard and roof terraces.

A site map published on the planning portal indicates the project will be known as ‘Chandler Court’, with Todd Architects involved.

The document also names Portbannis as the client for the scheme.

Portbannis is owned by property investor Stuart Draffin, who has as wide range of interests across the north.

He was recently involved in the deal to buy the Foyleside Shopping Centre in Derry.

The quayside site at 128-136 Strand Road, is located opposite Moran’s supermarket, which includes a Go fuel station.

Go is the LCC-owned brand for its retail and unmanned fuel forecourts.

LCC previously submitted a bid to develop an unattended fuel station at 128-136 Strand Road in 2015, but the application was deemed invalid by officials.

The site was marketed in 2016 with an asking price of £1.25 million.

A bid to develop an eight storey office building on the site was also abandoned in 2008 by a different developer.

An event is due to take place in late June, where the PBMSA proposal will be put on public display.

Following a consultation process, a full planning application is expected to be submitted later in the year.