A major regeneration project which has restored and enhanced one of Newcastle’s most iconic buildings was officially opened today (11th April 2008) by Denis Rooney, Chairman of the International Fund for Ireland. The building on Central Promenade, which has been refurbished at a cost of more than £560,000, is now home to the Mourne Café, the latest business venture from the owners of the Mourne Seafood Bar, which has restaurants in Dundrum and Belfast. The project, which provides over 2,300 sq ft of commercial retail space as well as 2,000 sq ft of residential space in the form of two lettable luxury apartments, has been developed by Newcastle Property Development Limited. Funding has been provided by the International Fund for Ireland which contributed £300,000 under its Community Property Development Scheme, and Down District Council which donated £60,000. The remainder of the funding has been raised by Newcastle Property Development Limited. Speaking at the official opening, Denis Rooney, said: “I am delighted that the Fund has been able to support Newcastle Property Development Limited in this project. The restoration of the property will not only have a tremendous positive impact on tourism in Newcastle but boost employment figures and act as a stimulant for further economic development in the area. I want to take this opportunity to congratulate all the people who make up Newcastle Property Development Limited in their success.” Councillor Colin McGrath, Vice-Chairman of Down District Council, said: "I am delighted that Down District Council has been able to support this project. This demonstrates Council's support for community led regeneration projects. Social Development Minister, Margaret Ritchie said:  “I would like to thank the International Fund for Ireland and Down District Council for their investment in community regeneration projects in towns and villages within Down District, and, in particular, for their investment in this project here in Newcastle.  A number of these projects have now been completed in places like Dundrum, Castlewellan, Killyleagh, Downpatrick and Ballynahinch, and all have had a positive impact on the social and economic life of our community.  I have no doubt that this project will have a similar impact here in Newcastle. “I also want to take this opportunity to congratulate Newcastle Property Development Limited for their hard work and determination in completing this project and for their willingness to invest a substantial amount of their own funding in this project.  Without their voluntary efforts, projects like this could never be delivered.” Sean O’Rourke, Chairman Newcastle Property Development Limited, said: “We look forward to the continued regeneration of Newcastle and hope that our project will contribute to the revival of the town" Newcastle Property Development Limited was established in 2004 to improve the economic, environmental and social life of the town

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