£500,000 retail investment in pipeline for Omagh
A WELCOME retail boost is in the pipeline for Omagh after developers Corbo Properties announced plans yesterday (Tuesday) for an investment of up to £500,000 in a new two-unit building close to the entrance to the town’s Showgrounds Retail Park on Sedan Avenue.
The planned construction – announced yesterday (Tuesday) – is due to begin within a matter of weeks and will incorporate two cafes – one of which has been confirmed as the popular Italian-style coffee shop chain Caffe Nero.
Whilst the occupancy of the second unit has not yet been decided, it is, however, understood that negotiations are currently ongoing between Corbo Properties and a sandwich bar operator.
When complete, it is hoped that the investment will result in the creation of over 20 jobs locally.
The latest development will come as a much-welcomed boost for local economy in the wake of the loss of a number other businesses in the town in recent months, and comes just days after The Card Factory officially opened its doors at High Street – on the site of the former Carlton Bakery – with the creation of five jobs.
Confirming the planned development to the Tyrone Constitution, a Corbo Properties source, said: “We are happy to announce the investment of up to £500,000 in a new building at the Showgrounds Retail Park to incorporate Caffe Nero and another potential eaterie operator. Work on the build is due to commence within weeks and it is anticipated that fit-out phase will begin in May/June with the handover to Caffe Nero expected to take place in June/July.”
To date, Corbo Properties has invested £30million at the Showgrounds Retail Park adjacent to town centre, with tenants at the park including Marks and Spencer, Next, Tempest, Argos, Heatons, River Island, Laura Ashley and New Look.
Describing the investment as a ‘welcome boost’ for the local economy, West Tyrone MLA., Ross Hussey, said: “The Showgrounds facility itself is one of the more popular shopping venues in the town and this latest investment indicates the strength of the market there. It also indicates the commitment of Corbo Properties Ltd in bringing extra jobs to the area.
“This is a very positive step at the beginning of the year. It is excellent news.”
As revealed previously, Corbo Properties also have planning permission for a major food store development at the former Scotts Mill site on the Mountjoy Road, with negotiations ongoing.
