Belfast Telegraph

Over 20 Obel Tower flats on sale for £2m-plus

By Andrew Madden

A portfolio of apartments in Belfast's Obel Tower has gone up for sale for over £2m.

And the 26 studio apartments in Ireland's tallest building are being sold for significantly less than their price before the 2008 crash.

In 2006, the flats were on sale for around £120,000. At £2m for all 26, each one is priced at around £77,000.

The portfolio is being put on the market by property agents Lisney. And Lisney has also been instructed to sell a car showroom in Belfast and a residential development site in Portrush with planning permission for 24 apartments.

The car showroom on Boucher Way is currently let by the Isaac Agnew car dealership and is on the market for £625,000.

In Portrush, a prominent development site with full planning for 24 apartments is up for sale. The site is close to the Royal Portrush Golf Club, which will be home to the British Open in 2019.

The site is for sale by informal tender - however, the sum of the indicative sale prices for all completed apartments is £7m.

Lloyd Hannigan, chartered surveyor at Lisney, said the Portrush site has generated a "huge amount" of interest, given its prime location and scale of the opportunity.

"Developers are keen to offer a premium product in the town and capitalise on the anticipation ahead of the Open golf championship to be held there next year," he said.

Elsewhere, a property made up of two commercial units and six residential apartments has gone on in market on Russell Street, central Armagh.

The investment opportunity on Russell Street in the city centre is on the market for £480,000 and is being sold by Best Property Service. Recently refurbished commercial shop/office units are situated on the ground floor of the property, while upstairs features the "Porter's Lodge" - a block of six residential apartments.

A modern office building in Mallusk is also on the market to buy or rent.

The property on Mallusk Road is on sale for £775,000 or to rent from £8.50 per square foot and comes with on-site parking for 12 vehicles.

Meanwhile, a three-storey office building in east Belfast has gone on the market for £3m.

Situated on the Holywood Road, the building is currently leased to Japanese technology firm Fujitsu and comes with basement parking.

Both the Mallusk Road and Holywood Road properties are being sold by property consultants Danker Associates.

Osborne King's property auction will also take place in Belfast's Clayton Hotel on Friday, with more than 60 lots up for sale.

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.