HOUSING association Clanmil has announced it is to work National Asset Management Agency (NAMA) to progress plans for the multi-million pound redevelopment of the historic Hilden Mill in Lisburn.
The organisation has signed an option agreement with NAMA for the purchase of the 16 acre site, giving it until June 2014 to consider proposals for its regeneration and an exclusive right to purchase if those plans prove viable.
Formerly home to the Barbour Thread factory since 1823, the site includes 200,000sq ft of listed buildings and has approval for redevelopment as homes, offices and light industrial units along with retail, community and leisure facilities granted in December 2009.
“We hope that today’s announcement will mark the beginning of an exciting new era for Hilden Mill and a real boost for the local economy,” said Clanmil chairman Joan Baird.
“This site offers an outstanding opportunity to provide much needed affordable homes in a vibrant, mixed neighbourhood and we’re very excited to be involved. Over the coming months we’ll be exploring how Clanmil can progress Hilden Mill’s transformation into a great place to live and work.”
Frank Daly, Chairman of NAMA said the agreement was important for the agency.
“It reflects NAMA’s determination to work in partnership with the social housing sector in Northern Ireland to provide affordable housing solutions through our portfolio. It also reflects our commitment to work with the wider state and public sector to develop and deliver, in tandem with our own commercial objectives, a range of initiatives which will bring social and economic benefits to Northern Ireland.”