Belfast premises of en­ergy firm on sale for £475,000

Belfast Telegraph - Business Telegraph - - News - BY MAR­GARET CAN­NING

THE south Belfast of­fices of Power NI par­ent com­pany Virid­ian have gone of the mar­ket for £475,000.

Agents Lam­bert Smith Hamp­ton have now been ap­pointed to sell the two-storey of­fice build­ing on New­forge Lane — one of the most expensive ar­eas in Belfast for res­i­den­tial prop­er­ties.

The 3,456 sq ft prop­erty is let out to Virid­ian at a ‘pass­ing’ rent of just over £34,500.

A spokesman for Virid­ian said: “We ex­pect a high level of in­ter­est for what is an at­trac­tive lot size and a se­cure in­vest­ment op­por­tu­nity.

“Virid­ian are an ex­cel­lent ten­ant whom have been in situ in New Forge for many years.

“The ten­ant had re­cently taken a new lease and com­pleted a re­fur­bish­ment of the prop­erty in­di­cat­ing their long term com­mit­ment to the lo­ca­tion.”

The name of the pri­vate in­vestor who is sell­ing the site has not been re­vealed.

How­ever, Virid­ian’s ten­ancy is not af­fected by the sale.

Power NI is North­ern Ire­land’s big­gest elec­tric­ity sup­plier. Virid­ian for­merly owned the net­works side of the busi­ness, be­fore a sale to ESB in the Repub­lic in 2010.

Virid­ian also owns En­er­gia, a ma­jor sup­plier in the Repub­lic.

Virid­ian was bought over by pri­vate equity firm I Squared Cap­i­tal in a deal re­ported to be worth €1bn (£0.78bn) around two years ago. It was sold by Bahrain’s Ar­capita, which had owned the com­pany for around 10 years.

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