A Derry businessman has agreed to sell property in the city to Ulster University to help facilitate the expansion of the Magee campus.
Garvan O’Doherty confirmed the deal just days after a Stormont-appointed taskforce urged the executive to commit £291 million in capital funding to enable the campus to support 10,000 students by 2032.
The taskforce was set up in March by Economy Minister Conor Murphy to investigate the costs and timescale involved in achieving the executive commitment of increasing Magee’s capacity.
It said the £291m was needed to support new developments, property purchases, refurbished buildings and public realm works.
Mr O’Doherty, who is a well-known hospitality and property investor in the city, told the Derry Journal that his group was in the process of selling properties at Queen’s Quay and Strand Road to support Ulster University’s expansion.
“We have had other, higher offers but decided to sell at a lower price in the civic interest,” he told the newspaper.
“We wanted to put the city first. We all want to see Magee expand to 10,000 students and this will facilitate that.”
The Derry Journal said the properties, which are located close to the university campus, include 56 Strand Road, 60-64 Strand Road, 20 Queen’s Quay and 24 Queen’s Quay.
The deal comes just a few months after Mr O’Doherty sold Da Vinci’s Hotel in Derry to the Simpson family.
Donegal brothers Patrick and Edmund Simpson’s interests include the Foyleside shopping centre, Brunswick Moviebowl and Belfast hotels Benedicts and The Landsdowne.
