New Build Apartment Development For Sale in Belfast, BT2

This property is marketed by:
Colliers

FOR SALE | LONG TERM INCOME INVESTMENT, NEW BUILD APARTMENT DEVELOPMENT | BELFAST

Description

Belfast, the capital of Northern Ireland, is the 12th largest city in the United Kingdom, and the 2nd largest on the island of Ireland.

The Bob W. serviced apartment complex is strategically located just south of Belfast City Hall, on the bustling Dublin Road, a hugely popular bar and restaurant area of the city.

The property is only a minute’s walk from Belfast’s prime retailing core and is within close proximity to Belfast Grand Central Station.

The building comprises an 84 en-suite bedroom apartment block set over 9 floors.

The building will PC in August 2026.

The entire upper floor of the building is let to Bob W. and a ground floor retail unit comprising 880sqft is available to lease in the open market.

Bob W. has a portfolio of more than 90 assets and 6,000 rooms across 17 European countries.

Leased term of 15 years with a tenant option to extend at year 15, 20 & 25.

Year 1 - Fixed annual rent of £882,000 calculated as £10,500/unit p.a.+ VAT.

Year 2 - Fixed annual rent of £945,000 calculated as £11,250/unit p.a. + VAT.

Year 3 - Fixed annual rent of £1,008,000 calculated as £12,000/unit p.a. + VAT.

Annual CPI review thereafter floored and capped indexation from 0% to 3% per annum.

Offers in excess of £15.0 million (gross) are invited. The sale can transact either by way of the acquisition of the SPV or via an asset sale. Clearly, each transaction carries different Purchaser costs.

Location

Belfast, as the capital of Northern Ireland, is the 12th largest city in the United Kingdom and the 2nd largest on the island of Ireland. Belfast has an excellent communication network. The M2 motorway provides access to the north towards Antrim and Derry and the M1 motorway provides access to the south and west of the Province towards Lisburn and Dublin. The city benefits from four railway stations, and the Belfast to Dublin train route has a journey time of approximately 2 hours 10 minutes. The city is served by two airports (Belfast City and Belfast International), with direct services to all major UK and a large number of European destinations. The wider Belfast Metropolitan Area has a population extending to approx. 650,000. As the largest commercial centre in Northern Ireland, Belfast has developed into one of Ireland’s premier business cities and has the largest employed population in the region. Over the past decade, Belfast has been extremely successful in attracting Foreign Direct Investment driven primarily by a highly skilled and educated employment base, competitive operating costs and advanced telecoms infrastructure.