BY MARK McKELVEY

A major American investment group with Irish interests has advanced plans to build a hotel, offices, shops and leisure facilities on a site of approximately 40 acres on the Derry Road in Omagh as part of a £250-million financial package.

This project, which will create 330 high quality jobs, is already three years in the making. The land, located between Watson Park and Hunter Crescent, and straddling the River Strule towards the back of Strathroy, has already been purchased for somewhere in the region of £45 million.

It is understood that the investors have already secured retail giants to take the units on site. This includes a major hotel chain which already has a number of other locations in the North. It is ready to move in as soon as the Omagh development is completed.

Representatives of the investment group hope to introduce their full proposals to the Planning Service next month, as well as making a full presentation to the Development Committee at Omagh District Council.

As long as there are no major hurdles to overcome, it is expected that planning approval could be granted by the end of the year with construction commencing in early 2009.

However, it is believed that this development location is currently partially zoned for housing in the area plan and this will have to be negotiated with planners.

This week, West Tyrone MP Pat Doherty hailed the announcement of £250-million direct investment in Omagh as a "huge vote of confidence in the area".

He also expressed his continuing support for ongoing regeneration in the town centre and for all the existing businesses in the town.

According to the MP, "The proposals for an ambitious development on the Derry Road will create 330 high quality jobs in a mixed use development which will include high grade office space, a business media centre, a hotel as well as retail, health and leisure facilities.

"Following on the heels of the recent economic investment conference, this proposal has the potential to really transform the local and regional economy and put Omagh firmly on the map as an area for investors.

"During the meetings that I have had with the investment group, they have cited the suitability of Omagh for investment by reference to its infrastructure, geographical location, a skilled local workforce as well as having a dynamic and forward thinking local council. The investment group viewed these factors as core elements in their decision to invest in the area.

"These proposals firmly compliment ongoing work on the Omagh 2025 Visioning framework, the DSD town centre masterplan, the West Tyrone Area Plan and, importantly, the exciting prospects which are set to evolve from the future use of the Lisanelly and St Lucia site.

"This unprecedented proposal clearly demonstrate that Omagh is well and truly open for business and we are poised and ready to deliver."

This project also has the potential to create a Strathroy link road from the Derry Road which is seen as vital to opening up Omagh and relieving congestion as Road Service have previously said this should be developer led.

With a major leisure facility part of the proposals it has also been suggested this will incorporate a ten pin bowling alley.

Commenting on this investment, a spokesperson for Omagh District Council confirmed that the developer has requested the opportunity to make a presentation to them regarding this proposal.

They said, "The Council welcomes any projects or proposals which are complementary with its overall plans of the future development of Omagh and which would bring economic prosperity and growth to the area, and looks forward to receiving the developers at a meeting in the near future."

Also welcoming this announcement president of the Omagh Chamber of Commerce, Marcus Isherwood said, "This is potentially great news for Omagh. Collectively all the key stakeholders must work together to realise this opportunity.

"The tide is really starting to rise in Omagh, especially considering the comments made by the Prince of Wales on Tuesday when he singled out the development at St Lucia and Lisanelly as a "once in a lifetime opportunity for Omagh."