The Scottish Mutual Building in Belfast, which was due to re-open as The George Best Hotel, is back on the market.
Commercial property agent Colliers has listed the landmark building in its ‘for sale’ section.
The advert describes it as a “prime city centre hotel development opportunity”.
It follows reports that property firm the Martin Property Group recently offered up to £4.5m to restart plans to open the George Best-themed hotel.
Bedford Hotel Limited, the company behind the Best hotel proposal, was placed into administration in 2020.
It had debts of around £12m, including £4.7m owed to a large number of “bedroom investors”, some of whom had poured their life savings into the project.
It is believed around 70% of the construction work had already been completed.
Martin Property Group’s bid to acquire the debts was refused by the hotel company’s largest creditor, and a court order last month granted administrators permission to sell the building.
The small print on the new listing states that Colliers is acting on the instructions of Matthew Ingram and Michael Lennon of Kroll Advisory Ltd, the joint administrators of the hotel.
The ad features photos of the interior before refurbishment work ceased in 2019 — also the same year it commenced.
“The works to date have mainly entailed the formation of bedrooms and en-suites in the upper floors and the amalgamation of the former ground floor shop units,” the listing states. Other information including key documents and a video walkthrough of the building is available on the website’s Data Room.