Drumnagreagh Hotel owner seeks developer to restore derelict site
THE owner of a derelict hotel in Co Antrim is looking for developers to come forward to help him transform the once popular site.
The Drumnagreagh Hotel in Glenarm has been derelict for more than 10 years, but a private investor from the area is looking to partner with developers to restore 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 bought the hotel in 2009, shortly after a fire engulfed the disused building and completely gutted the interior of the property.
It took fire crews more than 12 hours to contain the blaze.
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 advertised as a “unique coastal residential or commercial development opportunity” with “unrivalled sea views”.
Other development opportuni- ties currently advertised include lands at Banbridge Road, in Gilford, Co Down.
The eight-acre site, listed by Frazer Kidd, previously secured planning permission for a housing scheme, comprising of 48 dwellings, but that has since expired.
Another residential site has been listed at Summerhill Drive in south west Belfast near the Stewartstown Road.
The 0.34 acre site, also listed by GVA NI, had been given planning permission to build 18 apartments in March 2017.
A property in Market Square in Lisburn has also been listed for sale by GVA NI.
The property is suitable for retail, office and leisure uses and has on-site car parking at the rear of the property.
Meanwhile, Northern Ireland Construction firm Moorefield Contracts is building a new £5m Premier Inn Hotel, close to Belfast International Airport, and developing a £10m hotel, retail and leisure development in Dungannon.
The Drumnagreagh Hotel, and inside the abandoned venue, which is now on the market