The owner of a derelict Northern Ireland hotel is searching for developers to help transform the former popular site.
The Drumnagreagh Hotel in Glenarm has been derelict for over a decade, however a local private investor is looking to partner with developers to repair the buildings.
Gavin Weir, from GVA NI property consultants, said: “The site was sold during the downturn to a locally-based private investor who liked the location, and he is now going to do something more proactive, get planning consent and try and develop the site. He has had a number of approaches previously, some of them leisure related, some of them healthcare related and a lot of people looking at it as a residential site. It would be suitable for all three.
“So the investor has decided to put it out there and invite some expressions of interest and then either develop it out with them or possibly sell the site, but he is open to a variety of options.
“It is a unique site, just off the Coast Road, so it is hard to gauge what sort of quirky uses could be done with it.”
The current owner purchased the building in 2009, shortly after a fire engulfed the building, completely gutting the interior of the disused property.
Fire crews battled the blaze for over 12 hours.
Mr Weir said: “The hotel is completely derelict, so it is really a redevelopment opportunity.
“You would be starting from scratch again.
“The original old house is pretty bad due to the fire a number of years ago.”
He added: “The property is right on the Coast Road. The road itself has benefited from a huge influx of tourists and day trippers, so there may be opportunities for leisure uses.
“I’m not saying someone is going to build a grand hotel again, but there maybe something built, like a restaurant or a coffee shop.
“Because it was such a substantial building there are quite a few commercial uses for it from a planning point of view.”
The property has been marketed as a “unique coastal residential or commercial development opportunity” with “unrivalled sea views”.
There are currently many other development opportunities being advertised including lands at Banbridge Road in Co. Down
Listed by Frazer Kidd, this eight-acre site had secured planning permission for a housing scheme that would comprise of 48 residences. However, this permission has since expired.
Another residential sale has been listed by GVA NI at Summerhill Drive in south Belfast. This 0.34 acre site has been granted planning permission to construct 18 apartments in March 2017.
A property in Lisburn’s Market Square has also been added to the market by GVA NI.
This Lisburn property is suitable for office, retail and leisure and features on-site car parking at the rear of the building.
The Northern Ireland Construction firm Moorefield Contracts is constructing a £5m Premier Inn Hotel that is close to Belfast International Airport. They are also developing a £10m hotel, leisure and retail development in Dungannon.