Funding announced to secure future of landmark Derry building

The Department for Communities (DfC) has announced more than £1.4m in funding to secure the future of the former Danske Bank building in Londonderry city centre.

The loan, from the department's North West Regeneration Fund, has allowed the Inner City Trust, an organisation focused on the regeneration and preservation of Derry's historic buildings, to purchase the building in Shipquay Square, which was built between 1860 and 1879.

The building will be refurbished and brought back into use for commercial use, with the project aimed at supporting regeneration of the city centre.

Minister Gordon Lyons said the investment will help protect the city's built heritage and support the local economy.

"It is anticipated that, over the coming months, the building will be fully occupied, supporting economic development in the area and bringing increased footfall to local businesses," Communities Minister Gordon Lyons said.

Lyons added that the project underlined his commitment to "preserving our built heritage" and ensuring buildings and communities are revitalised for future generations.

The North West Regeneration Fund, which is designed to help regenerate historic buildings in Derry's Historic City Conservation Area, was announced in June 2025. It follows other investment in the city, including £5.1m for the Inner Walled City Public Realm Scheme, £1m for the redevelopment of Harbour Square and £1.2m towards the Inner City Trust's purchase of the former Austin's department store building.

The Inner City Trust says the building will be refurbished and returned to commercial use, continuing its long history as a centre for business in the city.

Speaking to BBC Radio Foyle's Mark Patterson Show on Monday, Helen Quigley from the Inner City Trust said they were delighted to acquire the building.

"This building has been here since 1860 and 1879 and stands very proudly by our Guildhall, inside our historic conservation area within the city.

"It has a long history of commercialism going back to Victorian times, and we hope and pray that that will continue going into the future.

"The building is in reasonably good shape, and we are very pleased about that. So, although it will need to be refurbished, it is already looking good from the inside and outside.

"We are talking to at least three potential clients at the minute, and we hope that they will have their business cases complete soon. Hopefully, by the end of the year, after the refurbishment, we will have clients moving in."

John Meehan, chair of the Inner city trust, added that the acquisition represented "a significant investment" in the future of the city.

Meehan said the building would become "a new hub for economic development, innovation, and regeneration activity", helping to increase footfall and support local businesses.

Danske Bank Operations Director Vicki Hassan said the agreement would ensure the historic Shipquay Place building "will live on and provide future benefit to local people and the local economy".

Danske Bank continues to operate in the city through its branch at Altnagelvin and its customer protection centre at Ebrington Square.

Foyle SDLP MP Colum Eastwood said the investment secures "the future of this key building in the heart of Derry city centre".

"This is a positive development and we must explore other ways that the regeneration fund and Financial Transactions Capital can be used to support our city," Eastwood said.

He said he had been involved with discussions between the Inner City Trust and Danske Bank and had highlighted how the North West Regeneration Fund might be a potential source of funding.