ENNISKILLEN-BASED Modern Tyres has reported a staggering pre-tax profit of £4 million for the past year as the company goes from strength to strength on both sides of the border.
Companies House recently revealed that Modern Tyres’ pre-tax profits for 2023 rose by an impressive 27 per cent to £4 million, with a welcome 12 per cent rise in turnover over its 40 sites.
It comes just a few weeks after plans were revealed for the former South West College campus in Enniskillen, which was bought by the Byrne family after the Fairview campus was sold.
Modern Tyres, based in the town, was set up by the late Jimmy Byrne in 1965 and it has reported one of its most successful years to date, with an overall turnover for 2023 totalling £56.8 million.
One of the largest independent tyre networks in Ireland, Modern Tyres has reported that turnover in the North rose to £36 million, with revenue in the Republic jumping to £20.8 million.
Companies House also reported that the staff costs for the company rose by 12 per cent to a total of £9.4 million. As it approaches 60 years in business, Modern Tyres employs 298 workers.
The Herald recently reported that the former South West College campus is set to be redeveloped, with a public consultation held at the site to inform local residents of the plans.
The proposals for the conversion of the Enniskillen property include a 110-bed hotel (5,277sq m) over six floors and a 147sq m retail unit on the ground floor of the hotel.
The proposal also consists of a separate 920sq m standalone retail unit and a 740sq m office, with 201 car parking spaces also developed at the former South West College site.
Architect Andrew Coulter of ACA Architecture in Omagh also explained that the project will consist of the demolition of some buildings and the retention of existing listed buildings on the site.
“It’s a landmark site in Enniskillen. It’s a prominent site that can be seen for miles around. From a hotel point of view, it’s centrally positioned,” Mr Coulter previously told the Herald.
“It’ll have a multi-purpose use that will also include retail and office spaces. The current building lends itself very well to being redeveloped as a hotel.
“Two buildings will have to be removed to facilitate parking and improve the visual impact. It’ll be two years in the making if all goes to plan,” added the Omagh architect.
Following the acquisition of the property, the Byrne family submitted a proposal of application notice (PAN) to Fermanagh and Omagh District Council for the site to be redeveloped into a hotel.
Related posts:
To read more.. Subscribe to current edition
Receive quality journalism wherever you are, on any device. Keep up to date from the comfort of your own home with a digital subscription.
Any time | Any place | Anywhere