Bangor’s Royal Hotel which has been derelict for four years has been purchased by Northern Ireland regeneration and development company Expedia Capita, in an acquisition which TDK advised on.
Expedia Capita plan to transform the hotel to include four ground floor restaurant units and twenty one high quality apartments in the floors above. The iconic frontage of the hotel will be retained as part of this regeneration project.
The scheme is estimated to cost £3 million. During the construction phase it is expected 40 jobs will be created, with a further 50 long term posts created within the restaurant units when completed.
Planning application for the project is due to be submitted in the coming weeks.
John Ferris from Expedia Capita is “delighted to be able to bring life back to an iconic Bangor building” and he is sure ” that the redevelopment will add to the commercial life of Bangor.”
Commenting on the new ground floor retail units which TDK have been instructed to market, Mark Thallon Retail Partner in TDK said “We feel this scheme will act as a catalyst for regeneration within Bangor Town Centre, there is good demand in the ground floor units prior to us commencing formal marketing and we hope to be able to make some significant announcements over the coming months.”
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Bangor’s Royal Hotel – Regeneration