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A software implementation and consultancy firm has been announced as the first tenant of a multi-million pound office block in Londonderry.

Alchemy Technology Services will be the first residents of the new Ebrington Plaza building in Derry by spring 2025.

Alchemy said the move is part of a multi-million pound investment in the north west region, and signals an ongoing commitment to the local economy.

Alchemy, which was founded in 2018 by John Harkin, currently employs about 150 people in the city and another 50 people in London.

The office space in the Waterside area of the city, which provides about 62,000 sq m of space, will serve as the new permanent headquarters for Alchemy.

Ebrington Plaza was developed by Heron Property Ltd to help encourage economic regeneration and growth in the north west.

'Derry a great place for businesses to grow'

“This new cutting-edge office space will allow us to continue our expansion and to create an exceptional work environment for our employees," Alchemy founder John Harkin said.

“The move supports our mission to create a centre of excellence for the transformation of the global insurance industry by attracting and retaining top talent in the north west.

“It reinforces Alchemy’s position both as a leading player in the global insurance industry and an employer of choice in Northern Ireland.

He added: “Following the recent opening of our City of London office in the iconic Lloyd’s of London building, we’re confident our new headquarters will play a pivotal role in continuing to expand our customer base.

“It’s a testament to our development as a company over the past six years and to the hard work and dedication of our talent.”

Paul Mulholland, who is the Heron Group property director, said they were delighted to welcome such a "thriving local technology business" like Alchemy to Ebrington Plaza.

"Alchemy has established itself as a leading player in its field and Heron Property are excited to deliver best-in-class office accommodation for their growing business,” Mr Mulholland said.

Welcoming the announcement, Foyle MP Colum Eastwood said the move is proof that "Derry is a great place for businesses to grow, and for families to make their home".

"Today’s announcement is a reflection of our strategic location, our talent, and our incredible people."