Business

Former Danske Bank building sold to investors

The Danske Bank building which has been sold for more than £5.75m
The Danske Bank building which has been sold for more than £5.75m The Danske Bank building which has been sold for more than £5.75m

THE former Danske Bank building on Donegall Square North has been snapped up by a Northern Ireland-based investor for a figure well over the asking price of £5.75 million, selling agents Osborne King have confirmed.

The six-storey, mixed-use retail and office building provides the investor not only with the opportunity to benefit from government income but also to let the fully fitted upper floor offices.

Richard McCaig, associate director of Osborne King, said: “This investment opportunity attracted keen interest, not only from local parties, but also from investors based in Dublin and London as well as international investments funds.

"There has been significant activity in the office sector over the last 24 months and the property represented a rare opportunity to acquire a prime building in Belfast’s most desirable office location. We're pleased to have delivered a successful sale and achieved what we believe to be a strong price for the asset.”

Osborne King has been retained by the new owner to let the upper floors, which offer accommodation ranging from 3,500 sq ft to 17,000 sq ft and the company says it is hopeful of achieving a rent "in excess of £16 per square foot".