§ Mr. Wm. Rossasked the Secretary of State for Northern Ireland (1) what is now the estimated cost of the Richmond Street scheme in Londonderry; and on this basis what are the economic rental values for (a) retail shops and (b) offices;
(2) when he now expects work to begin on the Richmond Street development scheme in Londonderry.
§ Mr. Goodhart[pursuant to his reply, 19 November 1979, c. 80]: The estimated cost of the scheme on completion and taking into account notional interest on capital employed during construction is £11.5 million. Present market levels would produce annual rentals of:
- (a) approximately £450,000 for the retail shops, and
- (b) approximately £130,000 for the offices.
The scheme is still under consideration in the light of these figures and the constraints upon public expenditure.