'A significant investment in the future': Former Northern Ireland Danske Bank building secured through £1.4m regeneration deal
Inner City Trust acquires landmark Shipquay Square property through first loan from North West Regeneration Fund, with plans to refurbish and bring it back into use
The future of the former Danske Bank building in Londonderry has been secured after Inner City Trust acquired the landmark Shipquay Square property through a £1.4 million loan from the Department for Communities.
The Financial Transactions Capital loan is the first to be awarded under the department’s North West Regeneration Fund and will enable the historic building to be refurbished and brought back into productive use as part of wider efforts to regenerate the city centre.
Communities Minister Gordon Lyons said the funding would help protect the heritage building while supporting economic activity in the surrounding area.
Minister Lyons said: “I am pleased to announce this funding from the North West Regeneration Fund, which allows our delivery partners, the Inner City Trust, to purchase and refurbish this important heritage building, securing it for the future. It is anticipated that, over the coming months, the building will be fully occupied, supporting economic development in the area and bringing increased footfall to local businesses. This further underlines my commitment to preserving our built heritage, ensuring buildings and communities are revitalised and sustained for generations to come.”
The North West Regeneration Fund, announced by the Minister in June 2025, complements recent investment in the city by his department, including the £5.1million Inner Walled City Public Realm Scheme, the £1million redevelopment of Harbour Square, and the £1.2million grant-funded purchase of the former Austin’s building by ICT.
John Meehan, chair of Inner City Trust, explained: "We are delighted to reach this important milestone for both the North West Regeneration Fund and the city centre. The acquisition of the former Danske Bank building represents a significant investment in the future of Derry~Londonderry and demonstrates what can be achieved through partnership working.
This project will bring a prominent city centre building back into productive use, creating a new hub for economic development, innovation, and regeneration activity. It will increase footfall, support local businesses, and help strengthen confidence in the city centre. We look forward to working with the Department for Communities and our future occupiers to bring the building back into use and to progressing further regeneration projects through the North West Regeneration Fund."
Vicki Hassan, operations director at Danske Bank, added: “We are delighted to have entered into this agreement with the Inner City Trust, which ensures that our historic Shipquay Place building will live on and provide future benefit to local people and the local economy. Danske Bank retains a presence in the city with our popular branch at Altnagelvin and our relocated Customer Protection Centre at Ebrington Square.”