Belfast Telegraph

Prime centre office block and 25 acres in Ards on market

Development lands at the Comber Road in Newtownards
Development lands at the Comber Road in Newtownards
Emma Deighan

By Emma Deighan

Land that overlooks the Atlantic Ocean, a prime six-storey office building in the middle of Belfast city centre and extensive land in Newtownards have all gone on the market.

Northland House on Frederick Street in Belfast close to Ulster University is classed as a "significant" site and has a price tag of £2.5m.

And in Newtownards, development lands on Comber Road have entered the market. The mixed-use development spans one to 25 acres with outline planning for uses including residential, retail, leisure and nursing home and hotel.

And on the North Coast a "rare opportunity to purchase a building site benefiting from stunning views overlooking the West Strand and the Atlantic Ocean" is available.

The site is listed for £250,000.

Meanwhile, land with planning permission for 20 homes just outside of Ballymena has gone on the market.

The space, on 39-45 Church Road, Kells, which is five miles from Ballymena and six miles from Antrim, has been pre-approved for the construction of new residential buildings.

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And in Mallusk, a 31,727sq ft warehouse and office building covering 1.2 acres is on sale. It is currently generating £97,750 per year in rental rates.

Stuart Draffin, director and head of agency at Lambert Smith Hampton, which has listed the site, said: "The property consists of warehouse and office accommodation that will likely be of interest to investors and owner occupiers.

"The asking price at £1m represents a significant discount to the aggregate costs of acquiring a site, securing planning permission and building a comparable premises.

"Occupancy levels are currently very high for warehouse accommodation throughout Northern Ireland and this has resulted in rents and capital values rising."

Northland House was occupied by NI Water (formerly the Water Service) from the 1980s until November 2010.

The Department of Finance and Personnel then submitted a planning application (Z/2010/0063/F) seeking permission to refurbish and extend the building. It was intended that the redevelopment of the building would allow a relocation of the Social Security Office from Corporation Street.

The proposed designs by Consarc Design Group comprised extensions to the sides and front of the building. The application was approved in February 2011 although no work was undertaken. The proposed works were estimated to cost £6m and permission expired in February 2016.

The building was first placed on the market in 2012, on behalf of DFPNI, seeking offers in the region of £1.5m, but no sale was completed. In the latest development, the building has been placed back in the market with offers of over £2.5m sought.

Lisney, the estate agents which has listed the 34,737 sq ft property, says there is potential to develop the building to accommodate hospitality, residential and retail.

And among Lisney's other listings include the former Carnview Children's Home in Newtownabbey and a 0.4-acre site with a detached dwelling on Lissue Road, Lisburn.

Carnview Children's Home has a price tag of £200,000 and is said to present a refurbishment opportunity for potential buyers. The site includes a 'U' shaped, two-storey building on 2.4 acres, a garage and a small store.

The property has been subdivided by block walls into multiple rooms including kitchens, dining rooms, living rooms, offices, bedrooms and bathrooms.

Belfast Telegraph