26 September 2019 News
CBRE Hotels has been instructed by leading property development company Oakland Holdings to seek an operator for their 175-unit Aparthotel which has just received full planning permission from Belfast City Council.
The new aparthotel is located at 32-33 Queen Street in Belfast city centre and proposals are now being sought to operate the completed aparthotel under either a Lease Agreement or under a Hotel Management Agreement (HMA).
The nine-storey over basement aparthotel occupies a pivotal corner position at the intersection of Queen Street and College Street in the heart of Belfast city centre. The property is only approximately 300 metres from Belfast City Hall at Donegall Square and is within the prime retail district of the city centre.
The property is close to both CastleCourt and Victoria Square shopping centres and is convenient to a host of tourist attractions and to the main entertainment areas of Belfast.
Importantly, the aparthotel is close to a host of new office developments currently under construction. These include Merchant Square, a 21,300 sq m / 230,000 sq ft office building fully pre-let to PwC and due to complete in Q1 2020. This office development is also being developed by Oakland Holdings.
Oakland Holdings is one of Northern Ireland’s most pioneering and successful development companies with an excellent track record and is leading the way in the development of Grade A office space and first class residential, retail and hospitality property.
The new aparthotel will provide exceptional guest accommodation comprising 175 guest units and food and beverage facilities at ground and first floor levels. There will also be meeting rooms, a guest gym, catering kitchen and staff facilities at lower ground floor. There is a range of unit sizes of 21 sq m; 25 sq m and 29-37 sq m providing maximum flexibility.
Brian Lavery, Managing Director at CBRE, commented: “The Queen Street aparthotel offers an exciting opportunity for hotel operators to establish a presence in the vibrant and rapidly expanding Belfast market.
“Working closely with Oakland Holdings, proposals are now being sought to operate the aparthotel either under a lease agreement or under a Hotel Management Agreement, with completion expected for Q2 2021.”
Brian Lavery, Managing Director at CBRE