Business

Citi acquires Gateway Offices building in Titanic Quarter

Citi has bought the Gateway Offices at Titanic Quarter

ONE of Belfast's most prominent office buildings, the Gateway Offices at Titanic Quarter, has been sold to sitting tenants Citi in a deal understood to be worth in the region of £35 million

The building comprises three accommodation blocks, central feature courtyard and underground car parking, and has been let to Citi since the building was completed in 2009.

James Eyre, commercial director at Titanic Quarter, said: "This sale is good news for Belfast. Having a high-quality occupier and employer such as Citi acquire its principal building, demonstrates its long-term commitment to Titanic Quarter and Belfast.”

CBRE acted on behalf of Titanic Quarter on what is the largest transaction in the office investment market in the city for some time.

Brian Lavery, managing director of CBRE Belfast, said: “It is satisfying for our team to have worked with Titanic Quarter through the development process, the original letting to Citi, and now to a conclusion with the sale of this outstanding building.

“The sale is further evidence of the confidence that multinational companies have in Northern Ireland as a place to locate and expand.

“It follows similar investments by Allstate, Concentrix, PwC, Deloitte and Kainos in choosing Belfast as a major employment location and for business growth.”

Titanic Quarter is one of Europe's largest urban-waterfront regeneration projects, and so far £425 million has been invested in the development, which sustains 6,000 jobs.

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