THREE prominent listed buildings in Belfast city centre have been acquired by Alterity Investments.
The Belfast-based family owned investment firm has bought the adjoining Mayfair Building, Arthur Chambers and State Buildings, which have frontages on to Cornmarket/Arthur Square, Arthur Street and William Street South.
The value of the deals has not been disclosed.
Alterity is currently redeveloping the former BHS site on Castle Lane into ‘The Keep’, a new city centre retail development that will house a new H&M flagship store.
Europe’s largest footwear retailer, Deichmann will also open a new unit on the site, which is scheduled to open in early 2024.
Apple has also been tipped as a potential new tenant.
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Alterity’s latest acquisitions mean it has become the landlord for a range of well-known retail brands in Belfast, including Hotel Chocolat, Jack Wills, Jigsaw, Molton Brown, Ernest Jones, Demalogica, Mint Velvet and Kiko.
In total, The Mayfair Building comprises seven retail units and 22,234 sq ft of vacant upper floor accommodation, while Arthur Chambers has three retail units and 4,352 sq ft of upper floor accommodation.
The State Buildings has two retail units with 12,558 sq ft of upper floor grade A offices.
Alterity said it plans to explore a range of options for the vacant upper floors of the State Buildings and Arthur Chambers, which require extensive refurbishment and renovation.
“This is a strategic acquisition that perfectly complements Alterity’s existing holdings in Belfast and reaffirms our commitment to the city centre,” said Richard Faloon, commercial director at Alterity Investments.
“We were attracted both by the location and the tenants in the buildings, many of which are brands we don’t have in our portfolio elsewhere in the UK.
“Through a range of investments in new developments such as The Keep and existing listed buildings such as those we are announcing today, Alterity is playing a key role in enhancing the retail and leisure offering of Belfast city centre.”
Mark Thallon, partner at TDK Property, who advised Alterity on the acquisition, said: “This is a fantastic acquisition for Alterity.
“These buildings occupy a prime location within Belfast city centre’s main retail pitch.
“Immediately adjacent to Victora Square and the Keep, they already house some of the UKs best known retail brands.
“We look forward to working alongside Alterity on their exciting plans for the buildings, which will complement the existing tenants and Belfast’s position as a leading retail destination.”
Alterity Investments, formerly known as Deramore, was formed in 1975.
Majority owned by Edward Lonergan, the investment firm’s assets include prime locations in Glasgow, Leeds, Chichester, Bath, Cambridge, Harrogate, Leeds, York, Cheltenham and Exeter.
