Wirefox snaps up major office block in Belfast
Northern Ireland property investment firm Wirefox has emerged as the buyer of a Belfast city centre office block.
It is understood that Holywood-based Wirefox paid close to the £5.75m asking price for Oxford and Gloucester House on Chichester Street.
The building has been let to the Department of Finance and Personnel (DFP) and other government tenants since it was built in the 1970s.
But it's understood the government tenants will soon move out.
And Wirefox then plans to redevelop the site to provide Grade A office accommodation.
Wirefox has assets across the UK and Ireland - and director of investments Steven Flannery said it expected to make more investments in Northern Ireland in the next few months.
"According to Lisney's 2015 Commercial Property Report, at the end of last year there was only 150,000 sq ft of Grade A office accommodation available in Belfast, and that figure has reduced since then," he said.
"There is a market requirement and Wirefox is confident that over the coming years we will play our part in placing Belfast on a strong footing by providing more Grade A office capability."