AN office building on Adelaide Street in Belfast city centre has opened its doors to its first tenants - financial services group Spence & Partners and professional pensions trustee Dalriada Trustees - following the completion of a significant renovation and refurbishment.
Linen Loft, a six-storey red brick warehouse was formerly known as the Ireland Brothers Building and was built in the early 20th century.
Comprising 28,000 sq ft across six floors, the building was bought by Redbay Developments in November 2014, who contracted MMM Design & Build to renovate the building to create a Grade A loft-style office.
In addition to extensive upscaling of the interior of the building, walkout space on each level was built to the rear of the building adding an outdoor terrace to each floor.
Spence & Partners and Dalriada Trustees will occupy the fourth and fifth floors (9,200 sq ft) for their 70 staff.
Neil Copeland, director at Spence & Partners said: “We're delighted to be the first tenant to move into Linen Loft at such an important time of growth for our own group of businesses.
“We have been actively looking for a suitable property to expand into in Belfast, and believe we have found that in Linen Loft, with easily adaptable space that will accommodate our needs for both staff and clients. We look forward to moving into this pristine new space later this year.”
David Wright, director at CBRE, acted on behalf of Redbay, said: “Linen Loft is an exciting and welcome addition to the grade A office stock in Belfast, and it is fantastic to see the refurbishment complete with tenants getting ready to move in.
“We worked hard to replicate a high-end loft-style office, similar to that often seen in locations in London. Innovative companies want more efficient and ‘cool’ work spaces to attract and retain stellar talent, which is exactly what this property offers.
“Refurbishment programmes like this will prove extremely important in delivering supply into the market quickly, as well as meeting the requirements of ambitious companies like Spence & Partners and Dalriada Trustees.”
Out of the six available floors up for rent in Linen Loft, there are three remaining floors which can be moved into immediately, with sizes available from 4,000 sq ft upwards.
Lambert Smith Hampton acted on behalf of Spence & Partners to secure the new office space.
Greg Henry, associate director of agency at Lambert Smith Hampton, said: “When Spence & Partners approached us to help find new office space, they had a specific requirement in terms of size to accommodate future growth.
“These redevelopment projects are becoming increasingly popular and there is good demand for this style of property.
“Currently there is limited supply of grade A stock, but completion of new build developments and refurbishment projects during this year will relieve some pressure, present opportunities for new occupiers and satisfy key requirements in the market place.”
