Northern Ireland

'£75m land' at Ballee in Ballymena on sale for £4m

The Northern Ireland Executive is making another attempt to sell a tract of land in Ballymena which was once valued at £75m.

The latest advertisement for the 97 acres at Ballee is for just £4m.

The Department for Social Development, which owns the site, put it on the market after failing to sell it back to the original owners.

The DSD had acquired the land by compulsory purchase in 1970 but never developed it.

It is understood that a valuation done just a year ago said it was worth around £9m at that time.

In 2007, before the property market crash, the DSD had been offered £50m for the site by a business consortium, but the department's valuation was £75m and so no deal materialised.

About two-thirds of the site is zoned for housing development.

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