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Phoenix Gas offices are on the market for at least £4.5m

By John Mulgrew

Published 20/10/2015

The Phoenix Gas headquarters which is on the market for £4.5m
The Phoenix Gas headquarters which is on the market for £4.5m

The East Belfast headquarters of Phoenix Gas has gone on the market for a minimum of £4.5m, with the energy firm remaining as a tenant. The building, located at Airport Road, is a large detached office space which was purpose-built for the company in 2001

The glass-clad building has 43,000 sq ft of space over three floors, with its current tenants having extended their lease until 2020. Offers are invited in excess of £4.5m. It’s being put on the market by commercial property firm Lambert Smith Hampton.

LSH director Neil McShane said: “The property was purpose-built as an operations and control centre for Phoenix Natural Gas in 2001 and it comprises 43,000 sq ft of Grade A office accommodation over three floors.

“It also provides for 190 car parking spaces and occupies a site of 2.21 acres. Phoenix Natural Gas has just extended its lease to 2026, thereby demonstrating its confidence and commitment to the building and location.”

He said the property represented a good investment for the Belfast office sector and he expected a “high level of interest” in the site.

“This represents an opportunity to invest in the Belfast office sector, which has been the subject of considerable and growing interest in the last 18 months, mainly due to the lack of office development and growing demand for grade A space. We anticipate a high level of interest.”

The building currently has a second floor office space for rent.

The 6,500 sq ft space currently provides room for 60 workstations, and also has 20 car park spaces.

Meanwhile, in Belfast city centre, the former Stan and Olly’s restaurant on the Dublin Road has been put up for sale.

It’s gone on the market for just under £500,000.

It played host to the US-style diner for the last few years, but the restaurant closed its doors several months ago.

And the site remains set up as a restaurant, with potential buyers “requiring minimal in-going expenditure”, according to agents GVA NI.

Its floorspace covers an area of 6,000 sq ft, with the premises located close to a number of apartment developments, as well as a host of bars and competing restaurants and eateries.

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