THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

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1 FOR SALE - LANDMARK SEAFRONT HOTEL IN THE Centre OF BANGOR WITH DEVELOPMENT POTENTIAL THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

2 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED Summary One of the most recognisable landmarks in north down, regarded as the spirit of Bangor, this property offers a unique opportunity to purchase a flagship building on Bangor s seafront. 5 Floors 50 En-suite bedrooms Two bars and additional beer garden Function rooms C. 35,639 Sq ft

3 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED Location Bangor is just 15 miles from Belfast on Northern Ireland s scenic North Down coast. The largest town in County Down is a thriving community of over 60,000; its heritage as a seaside resort evident in the Victorian and Edwardian architecture, esplanade, seafront walks, beaches and marina. Bangor continues to be a popular destination for day-trippers and holidaymakers from NI and beyond. In addition to many visitor attractions, the town has a thriving local economy and is home to many Belfast commuters. Bangor was voted in 2007 by UTV viewers Northern Ireland s most desirable place to live. The town has good road and rail links to Belfast, is a 20-minute drive to George Best Airport and is convenient to major ferry ports and motorways. The Royal Hotel and Windsor Bar occupies a superb position, directly overlooking Bangor s picturesque Marina (Ireland s largest) which attracts yachtsmen from all over the world. Many visitor amenities are within walking distance: Pickie Family Fun Park and boating lagoon, the Walled Garden at Bangor Castle and Project 24 modern art installation. The town centre also boasts an Olympic size swimming pool and waterpark at the new Aurora complex, while Bangor s importance as a major medieval monastic settlement is celebrated at Bangor Abbey and its award-winning heritage centre. These amenities are the result of significant recent investment by local government. The town is set amidst 16 miles of beautiful coastline. The North Down Coastal Path is one of the finest shoreline walks on this island. Many top visitor destinations are within easy reach, including the Ulster Folk and Transport Museum, Strangford Lough, St. Patrick s Trail and seaside villages Groomsport and Donaghadee. North Down has six 18-hole golf courses, including the birthplace of golf in Ireland and the championship course where Rory McIlroy learned the game.

4 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED Economy and Tourism Northern Ireland has a growing population of 1.8m. The region enjoys a strong record of attracting investment due to excellent transport and communications infrastructure, high educational standards and a young, motivated workforce Costs are competitive, and NI also benefits from a probusiness climate which nurtures enterprise. Major growth areas include ICT (Belfast is Europe s top destination for software development), financial services, professional services, life sciences, aerospace and cybersecurity. As the economy has improved, NI has become a hub for innovation. Belfast s Queen s Island, where Titanic was built, is now a dedicated science and technology cluster of highgrowth businesses. Nearby, major production studios are making hit TV series and films such as Game of Thrones. A leading location; NI landscapes and cityscapes feature on television and the big screen. Also putting NI on the map: our golfing greats and the success of Belfast s new Titanic Museum. Major world-class events are now staged here regularly and new tourism products and infrastructure are regularly coming on stream. The Northern Ireland Tourist Board is building on this positive profile, recognising the growing importance of tourism in the economy. Visitor numbers and revenue are rising annually: 2013 tourism spend worth c. 723 million 4.2 million visitors the target set by government for December ,000 jobs in the sector in 2010 The Bangor economy reflects the more positive picture and is diversifying; strongest sectors being wholesale, retail, business services, construction and manufacturing.

5 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED Situation The Royal Hotel and Windsor Bar is Bangor s bestknown seafront landmark, a Bangor Institution in the grand tradition. This imposing property on a prime site offers superb development potential. Since 1773, a hotel has stood here, rebuilt in Over its 242-year history, the hotel gained status as an iconic landmark integral to Bangor s life and landscape. The guest book contains many famous names and Van Morrison was a regular. The Windsor Bar enjoyed a popular reputation for music events. Facing the Marina, the location also benefits from being in the heart of Bangor, beside the main shopping and business streets, High Street and Main Street. The property is particularly wellplaced for a wide range of activities, including as a hotel for business, tourism and leisure uses. Major Bangor tourist attractions and parks are within walking distance. The North Down Coastal Path is on the doorstep, as is the Bangor Tourism Information Centre. The property is also situated in the heart of Bangor s lively nightlife district. Description The 5-storey building enjoys a prominent position on Quay Street and boasts a handsome bay fronted façade with tower a distinctive example of 30s architecture. The property comprises: 50 bedrooms, all with en-suite facilities. Features include high ceilings with mouldings. Many have panoramic sea views. Two popular bars (Windsor Bar and Crown Bar) with spacious beer garden accessed from both. The Crown Bar has its original open fire. Restaurant with oak panelling, open fire and parquet flooring Function Rooms at first floor level, catering for up to 200. One is galleried and suitable as a nightclub. Two kitchens Additional staff rooms/offices. Passenger lift to the upper floors. The purchaser may be able to split the Windsor Bar, to sell as a separate entity from the Hotel or for lease to a pub operator, subject to the necessary works being carried out to split the property.

6 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED Accommodation Approximate Gross Internal Area of the property: Ground Floor 12,120 sq ft (1, sq m) First Floor 9,193 sq ft ( sq m) Second Floor 7,700 sq ft ( sq m) Third Floor 3,268 sq ft ( sq m) Fourth Floor 3,268 sq ft ( sq m) Total 35,639 sq ft (3, sq m) Contents Large amount of furniture, beds, chairs, tables and kitchen equipment to be included in the sale. Licence It is our understanding that the royal hotel and windsor bar holds a current liquor licence, however we recommend that any prospective purchasers seek legal advice in respect of the licence prior to purchase. Planning Permission Full Planning Permission was granted on 17th May 2011 for the demolition of the existing Hotel and Windsor Bar and the erection of a replacement 52 room hotel with bar/ restaurant, roof-top restaurant, 33 luxury apartments, viewing terrace, roof-top gymnasium, car parking, amenity space and ancillary accommodation. Site The subject property sits on a site which extends to approximately 0.34 Acres (please see ordnance survey extract) and may be suitable for a variety of uses/ development schemes, subject to obtaining the necessary planning consents. Rates NAV: 35,000 Rate in (2015): Rates Payable: 18,511 per annum approx. We recommend that interested parties verify these figures with Land & Property Services. Price Offers invited in the region of 950,000 VAT All figures quoted are exclusive of VAT, which may be payable. Title We are assuming that the property is held by way of freehold or long leasehold, subject to the payment of a nominal ground rent. EPC EPC Rating: D97

7 Ground Floor THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

8 First Floor THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

9 Second Floor THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

10 Third Floor THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

11 Fourth Floor THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

12 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

13 THE ROYAL HOTEL & WINDSOR BAR, QUAY STREET, BANGOR, BT20 5ED

14 For further information please contact: Brian Kidd M: E: Stephen Reid M: E: Telfair House, 87/89 Victoria Street, Belfast, BT1 4PB T: F: E: W: Disclaimer Frazer Kidd LLP for themselves and for the vendors of this property whose agents they are, give notice that (I) The particulars are set out as a general outline for the guidance of intending purchasers or lessees, and do not constitute part of an offer or contract; (ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (Iii) No person in employment of Frazer Kidd LLP has any authority to make or give representations or warranty whatever in relation to this property.