Landmark Prime City Centre Retail & Office Investment Brought to Market
A prime multi-let retail & office investment opportunity has become available in the heart of Belfast city centre.
Originally developed in 1968, Donegall House has been placed on the market for offers in excess of £11.25m and is situated opposite Belfast City Hall.
It boasts a strong line-up of tenants, including Nationwide, Barclays, Davy, Moore Stephens and Hays Recruitment, and currently provides a total gross rental income of £577,106 per annum.
Commercial property agencies CBRE and Osborne King have been instructed as joint agents on the sale of the property.
Andrew Coggins, Director at CBRE, commented: “Donegall House presents a rare opportunity to acquire a prime city centre, multi-let retail and office building with strong reversionary potential.
“Investor interest in the Belfast office market remains strong, which is reflected in two recent sales – Obel Offices and the Metro Building – which both sold above asking price.
“We are anticipating that the majority of transactions throughout the remainder of 2018 will continue to emanate from financial restructuring and investors crystallising profit.”