Business

Landmark Belfast building comes on the market

The office block on the Donegall Quay, Ann Street and Oxford Street corners has gone on the market for £1.25m
The office block on the Donegall Quay, Ann Street and Oxford Street corners has gone on the market for £1.25m The office block on the Donegall Quay, Ann Street and Oxford Street corners has gone on the market for £1.25m

A LANDMARK office building in Belfast city centre, currently owned by a pension fund, has been put on the market with an asking price of £1.25 million.

The property occupies a prominent corner site at the junction of Donegall Quay, Ann Street and Oxford Street, and offers some of the best views in Belfast from its upper floors.

It is in close proximity to Laganside Courts and the Waterfront Hall, as well as the Victoria Square retail area and the burgeoning Titanic Quarter.

Its location opposite Queen’s Bridge offers easy access to east Belfast and beyond Holywood and Bangor. It is also expected to benefit from the new Belfast Rapid Transport scheme linking the east and west of the city, which is due to commence operation next year.

Lisa McAteer, director at CBRE, which is handling the sale, said: “It’s rare that a building located on such a prominent gateway site comes on the market, and we believe it offers fantastic potential for a new gateway office development, apartment scheme or hotel and leisure concept for Belfast.

"The views from the upper floors stretch out towards Belfast Lough, Harland & Wolff, and as far as Stormont. They are simply stunning views giving a 270-degree perspective across the city and are pretty much unrivalled anywhere in the city centre.”

She added: “We believe the unique location and views from this site will mean that, when redeveloped into whatever future use a new owner decides to pursue, this will be one of the most desirable buildings in Belfast.”

The property is zoned as a City Centre Gateway site under the Belfast Metropolitan Area Plan, and a planning report has indicated it may be suitable for erection of a new building to 6-8 storeys high.

Currently, the building has only one tenant, Stewart's Solicitors, which has been in occupation for 10 years. CBRE has been instructed to find new premises for the legal practice.

The historic site dates from the 1850s heyday of Donegall Quay, and was originally sold by famous Belfast architect Sir Charles Lanyon to James Tedford in 1885. A restaurant of the same name still occupies an adjacent site.