£1.2m price tag for historic Newtownards property

AN HISTORIC building in Newtownards has gone on the property market, with a price tag of over £1m.

Regent House, constructed in 1820 for a prominent local brewer, is a Grade B1 listed mansion on a prominent site in Regent Street. The landmark property is being offered for sale for the first time in over 20 years.

The site has been granted planning approval for a gated mews-style complex of four apartments and two townhouses.

The house was originally owned by brewer, Peter Johston, and the selling agents describe the property as offering ‘a rare combination of historical significance, central location and modern potential’.

From 1927 until 1962, the property was the site of Regent House Grammar School, before it transferred to its current location on the Circular Road. Since then, the property has been used for commercial purposes, including Feguson’s Ford dealership.

Regent House is being jointly marketed by Paul Ritchie of RHM Commercial and Richard Orr of Simon Brien Residential, who confirm the building’s sandstone masonry, intricate plaster work and central staircase have been ‘meticulously preserved’,

The sale includes the original mansion, covering 7,714 square feet over three levels – a 6,274-square-foot retail warehouse, a 50-space pay-and-display car park, and grounds to the west of the landmark building with planning permission for the mews-style development of six dwellings (not affecting the main building).

The site is partially tenanted, bringing in an annual gross rental income of £49,400, with potential to exceed £100,000 if fully occupied. Current tenants include a coffee shop and several office spaces, with additional income generated from the car park.

The asking price is £1.2m and the agents hope the sale of the historic landmark will mark ‘the next chapter for this iconic site’.