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Deal struck for sale of Belfast city centre office block

By John Mulgrew

Published 29/07/2015

Agreement: Patrick O’Gorman
Agreement: Patrick O’Gorman

A major Belfast city centre building which currently houses Boots has been sold for an undisclosed sum.

The 82,000 sq ft retail and office block on Donegall Place has been taken over by Belfast-based Ashmour as part of a consortium including Lumina Real Estate Capital and Bywater Capital.

It had been part of the Wildrose group of property firms, owned by developer and former boxing promoter Barney Eastwood.

The ground and part of the upper floors of the building are currently let to Boots, while the remainder is made up of vacant office accommodation.

The value of the deal has not been revealed.

James Armstrong, investment director at Lumina, said the deal fits the firm's "investment criteria offering a defensive element driven by the location and size of the prime retail store".

Patrick O'Gorman of Bywater Property said: "In due time we would like to revitalise the vacant upper floors, in order to create top-class office accommodation for Belfast's leading businesses."

It's the latest development for Donegall Place after Gap opened an outlet on the city centre thoroughfare.

Gap opens new Belfast city centre store in 'positive' sign for retail in Northern Ireland  

Belfast Telegraph

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