Former Co Down pub could be transformed into homes in £2m redevelopment scheme
A former pub in Co Down could be turned into homes as part of a £2m investment. The closed Old Priory Inn in Holywood has been bought by Lacuna Developments, which is based in the town.
The site at Stewart's Place includes two derelict buildings. One is the former Old Priory Inn and the other is a listed property next to it.
The site was put on the market for around £400,000 last year.
It is likely it will be redeveloped into homes, either apartments or houses.
Lacuna said it also hoped to retain the listed building and could even include it in future plans for the development.
The company, which took on the two buildings last month, has started work to secure the site and re-open Stewart's Place to traffic.
The Old Priory Inn, on the town's High Street, has lain empty for around 10 years.
Lacuna's managing director, Anthony Best, said: "We want to integrate the building and site back into the town. The building at Number One was listed as one of a pair in the mid-1970s.
"Number three was restored in 1993 as a residential building, but prior to our purchase Number One had fallen into a poor state of repair.
"We are undertaking the necessary surveys and working alongside the council to agree a way forward."
Lacuna is also building student accommodation in a joint venture with Welsh property firm Watkin Jones.