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10/01/2006
Gosford Castle sold for £1000
The government has sold a Grade A listed building in County Armagh for just £1000.
Gosford Castle, near the Markethill area is in need of around £4 million worth of repairs.
Developers plan to turn the castle into a series of private residences, and the government has a claw-back agreement relating to a share of profits generated by the development.
Under this agreement, the British government will receive 50% of any surplus beyond a specified profit of 15%.
Agriculture Minister Lord Rooker said the deal would secure the restoration of Northern Ireland's largest Grade A listed building.
He said: "after a difficult era", the future of Gosford Castle was "looking bright again.
"This will be good news for County Armagh as a whole."
Gosford Forest Park will remain open to the public while the work is carried out.
(EF/SP)
Gosford Castle, near the Markethill area is in need of around £4 million worth of repairs.
Developers plan to turn the castle into a series of private residences, and the government has a claw-back agreement relating to a share of profits generated by the development.
Under this agreement, the British government will receive 50% of any surplus beyond a specified profit of 15%.
Agriculture Minister Lord Rooker said the deal would secure the restoration of Northern Ireland's largest Grade A listed building.
He said: "after a difficult era", the future of Gosford Castle was "looking bright again.
"This will be good news for County Armagh as a whole."
Gosford Forest Park will remain open to the public while the work is carried out.
(EF/SP)
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