Business park in south Belfast placed on market for £2m
Investors from the Republic are taking an interest in buying a £2m Belfast business park due to the collapse in the value of the pound.
Weekly Business Digest Newsletter
Beechill Business Park on the Beechill Road in south Belfast have now been placed on the market.
It had been owned by company run by former director of the Maze prison site group, Ken Cleland.
It’s being sold by Osborne King, on behalf the administrators of Arborhill Ltd, a development and property company which counts Ken Cleland as a director. The company went into administration in 2015.
Mr Cleland was behind a number of developments across Northern Ireland, and was formerly a director of the Maze/Long Kesh Development Corporation. He was also formerly a director of printing firm Graham and Heslip, which went into administration in 2010.
The sale includes Linden House, which is currently home to a range of tenants including Boots and Christian Aid.
According to Osborne King, the majority of the income is derived from Linden House, a 16,000 sq ft office building with a range of tenants. The other element is Springboard Business Centre which is a serviced office building consisting of 3,817 sq ft. This has a gross estimated rental value of £62,750 a year. And it’s understood there has already been strong interest with an “increased level of inquiries from Republic of Ireland-based investors, likely because of the strong exchange rate”.
Belfast Telegraph Digital