The site of a well-known pub and off-licence in Lurgan has gone on the market with planning approval for three apartment blocks.
Based on Edward Street, the site – which currently houses Reid’s Bar – has entered the market with a guide price for the entire lot of £1,260,000.
The listing agent, Best Property Services, describes the still-trading premises as having permission for “three apartment blocks consisting of 16 apartments in total in addition to a new commercial unit, off-licence and bar at ground floor level of block three”.
The agent explains that planning permission was granted in August 2023 for demolition of the existing buildings and erection of the three blocks in its place.
Blocks one and two would comprise of three floors spread across a ground floor, first floor and second floor. Each would consist of six apartments with the ground floor comprising a single one bedroom apartment and single two bedroom apartment.
The overall floor space of each block would extend to 468 sqm.
Block three would also extend over three storeys with the ground floor comprising a bar area, off licence, cold room, toilets, lift and lobby area.
The first and second floors would then each comprise two, two bedroom apartments with the overall floor space of block three extending to 520 sqm.
Best Property Services note that they have been advised by the owner that block three is “currently under consideration by Invest NI for tourism grant support of between 15-18% of build costs for self catering accommodation to Tourism NI 3 Star Standards.”
It also notes that Armagh Banbridge Craigavon (ABC) Regeneration have identified this site as “best suited to social housing with NIHE support”.
The entire plot – located in close proximity to Lurgan town centre – includes a substantial portion of currently undeveloped grassland at the rear of the property.
The site is currently for sale as an entire lot with a guide price of £1,260,000 or may be split into two lots – Lot A and Lot B.
Lot A would encompass blocks one and two as the site for development of 12 apartments with offers invited around £510,000.
Lot B would encompass the licensed premises for redevelopment of block three with offers around £750,000.
The closing date for offers is noted as Thursday June 19.
Interested parties should contact Best Property Services for more information.
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