Council lawyers examine data centre land deal

The new owners of Coleraine’s data centre have submitted a formal expression of interest in acquiring more land to accommodate expansion.

The Portstewart Road facility was bought by global tech firm Eyrce as part of multi-million pound investment in artificial intelligence.

It is the only occupied plot on the council-controlled Atlantic Link Enterprise Campus.

Earlier this month councillors sitting on Causeway Coast and Glens Land and Property sub-committee were advised that an expression of interest had been received relating to the rest of the site which extends to approximately 12-15 acres.

The meeting was held behind-closed-doors and there is no indication in minutes of the interested party.

However, the Chronicle understands the potential buyer is Eyrce.

It’s believed firm wishes to acquire land for a second data centre and the solar plant it needs to power the facilities.

Councillors were told a valuation was being obtained while legal and due diligence work was underway

“Any proposal for disposal, together with the outcome of the independent valuation and recommended transaction structure, will be brought back to Committee for consideration and approval,” the minutes record.

The 16-acre Enterprise Campus was launched to great fanfare in 2017.

The only enterprise zone in Northern Ireland, it was set up with HM Treasury's blessing to attract high tech start-ups through incentives such as Enhanced Capital Allowances.

However, only one company – a data centre provider formerly know as 5NINES took up the offer.

The land continues to be held on a long term lease from Ulster University that cost Causeway Coast and Glens Council a reputed £1m

While data centres developments do not create significant numbers of permanent jobs, the Eyrce deal could bring a significant financial windfall that could be funnelled into other major capital projects.