The former Cabin Hill School in east Belfast has gone on the market yet again.
The school and the surrounding 7.7 acres of land in the Belmont suburbs were previously on sale back in 2021 for £5m.
Planning permission was approved for a total of 66 new homes on the site of the former preparatory school and the surrounding land, as well as 12 apartments within the school building.
A property developer snapped up the offer four years ago but is now wishing to sell the school building off — which is an acre in total — and instead of building 66 homes, the developer will be erecting 53 new dwellings on the site.
Offering direct access off the Upper Newtownards Road, the historic former Cabin Hill School is the focal building in the centre of the site.
The newest listing for the sale of the school by agent Colliers New Homes has been viewed more than 8,000 times on PropertyPal.com in the past week.
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The Grade B2 listed building extends to 18,000 square feet and was first constructed in the 1860s as a manor house.
It was later extended in the 1900s and is most famous for being the temporary seat of the very first Northern Irish Parliament in the early 1920s.
It then became Cabin Hill School, which operated for approximately 80 years until its closure in the early 2000s.
The school went up for sale ten years ago, prior to the 2021 sale, with a price tag of £675,000.
Director of Colliers New Homes Aaron Russell, who is listed as the selling agent for the property, said that a fixed asking price has not been finalised as of yet, though it remains “in the region” of the former asking price.
Former Cabin Hill School, 570 Upper Newtownards Road, Belfast, BT4 3LD
“Back in 2015 it was looking for offers around £675,000, so I’d say we are looking at a figure upwards of that but under £1m,” he told the Belfast Telegraph, adding that there has been plenty of interest, with viewings expected to start sometime this week.
“We have had property developers keen to take on the site, especially with the fact it already has the planning permission in place, ready to go,” he said.
“There have been people from right across the country interested in the site with various ideas from the apartments to even some individuals wanting to refurbish the property as a house.
“Inspiration was obviously taken from Ormiston House, which was renovated not so long ago.
“The building itself is stunning but it is in a severe state of disrepair, so, whatever your idea for the building, it will take a good bit of funding to bring it back to its former glory.”
He added that whoever takes on the project will probably need to work in conjunction with the current owner, who will be building 53 new homes in the surrounding site.
“The planning for these new homes is expected to come through the system later this year,” Mr Russell explained.
“And there will be a shared entrance to the site through the old school gates.”
He added that he comes across listings like this “very rarely”.
“The market in general would see very few listings like this come to life, but it is great to work on this type of building with so much history,” he said.
“Opportunities like this don’t come around too often and the location is just unbelievable, a real prime spot in east Belfast. I’d say it’s a once-in-a-lifetime opportunity.”