A £20 million plan for the development and construction of Northern Ireland's first tourist outlet centre was announced yesterday.

The investment will see the restoration of the historic Gilford spinning mill in Gilford, Co Down. Wyncote Hampton Outlets, a wholly-owned subsidiary of the London-based property investment and development firm, Hampton, has conditionally agreed to buy out the interests of Gilford Mill Ltd shareholders and work in partnership with founder Mr Peter Matson to complete the project.

The tendering process begins in the new year, with reconstruction of the mill due to start in spring. When completed, it will include over 80,000 sq ft of outlet retailing and 60,000 sq ft of arts and entertainment facilities.