25 October 2018 News
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.”
Andrew Coggins, Director at CBRE