Belfast of­fice tower on mar­ket for £24m

Belfast Telegraph - Business Telegraph - - News - BY STAFF RE­PORTER

ONE of Belfast’s most prom­i­nent of­fice blocks has gone on the mar­ket for £24m.

Great North­ern Tower, on Great Vic­to­ria Street, be­side the Europa Bus­cen­tre and Great Vic­to­ria Street Rail Sta­tion, trans­formed the land­scape in the city cen­tre when it was com­pleted in 1992.

It’s a 13-storey of­fice build­ing with its main ten­ant, The Depart­ment for Com­mu­ni­ties’ fam­ily sup­port di­vi­sion, due to stay un­til March 2027.

Paul Henry, di­rec­tor at Os­borne King, which has listed the build­ing, said: “We ex­pect a lot of in­ter­est given there is around 8.4 years of guar­an­teed in­come there from the govern­ment. One of the other key things about this prop­erty is that it’s ad­ja­cent to the trans­port hub and is in a great lo­ca­tion and when that lease is up, we would hope that plans to fully de­velop the trans­port hub there would be com­pleted. That’s a great de­vel­op­ment for Belfast and peo­ple move­ment.”

Mr Henry said the Belfast of­fice mar­ket is “viewed as one of the po­ten­tial growth sec­tors in com­mer­cial prop­erty”.

Great North­ern Tower is the third pre­mium of­fice build­ing to go on the mar­ket this year.

Os­borne King sold The Metro Build­ing on Done­gall Square South for well over its £21m ask­ing price in Septem­ber, while the Obel Build­ing sold for over £15m in July.

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