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The group said that it intends to use the former Shackleton Barracks for new business ventures, which could see the creation of more than 100 new jobs.
Jarlath Quinn the Group Chief Executive said: "We are delighted to have been the successful bidder to purchase this 600 acre former military site in Ballykelly.
"We will endeavour to develop the site by establishing a number of new business ventures on the site such as a facility to refurbish and fit our private jets as well as having a specialist fabrication business on the Shackelton site and therefore creating significant employment in the local area.
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"Other business ventures under serious consideration by us are the creation of one of the largest solar panel plants in Europe with the development of a 60MW Solar Farm at a cost of £60million.
"In addition MJM Group could also continue to facilitate the use of the site by film crews and would accommodate other business proposals from interested parties to help further develop the site to help achieve its full potential."
Announcing the deal, Northern Ireland's First Minister, Arlene Foster said: "I'm pleased to confirm we have agreed to sell the Shackleton site to MJM Group.
"This site which was gifted to the Executive under the Agreement at Hillsborough Castle, presents a unique opportunity for MJM Group to maximise its potential.
"MJM plans for Shackleton include a private jet and rail carriage fit out facility, renewable energy and the company's own IT service centre and facilities management services which will create over 100 new jobs.
"With NI Water's plans to develop part of the Site for an Integrated Constructed Wetland and DARD'S plans for its new Headquarters, the entire Site will soon be brought back into use by the new owners. At a time when our manufacturing sector has had a number of disappointing announcements, this is a good day not just for Ballykelly but for the manufacturing sector of the wider North West."
(MH)
