****ONE UNIT ALREADY AGREED****
Bangor’s iconic Royal Hotel building, which has been derelict for 4 years, has been bought by Expedia Capital, a Northern Ireland development and regeneration company, who plan to turn it into 21 high quality apartments with four ground floor restaurant units.
The scheme is estimated to costs £3 million and 40 jobs are expected to be created during the construction phase with 50 long-term jobs created in the restaurant units.
The current frontage of the existing building will be retained, part of the high quality regeneration plan for the project.
The upper floors will be converted into 21 high-quality turn-key apartments with the ground floor transformed into four modern restaurant units.
A planning application is scheduled to be submitted in the coming weeks.
John Ferris from the Expedia Capital said, "We are delighted to be able to bring life back to an iconic Bangor building, which enjoys terrific views over the Irish Sea and sustain it for future generations".
"The scheme will help in the ongoing and successful regeneration of the Bangor seafrontand bring further life to the town's marine quarter.
"A key part of the plan is to preserve the frontage of the Royal Hotel building and we are confident that the redevelopment will add to the commercial life of Bangor."
Archaeological Survey supplied to the Council by the Applicant
New look overlayed with existing building.