08 March 2016

Osborne King has sold the former Danske Bank building on Donegall Square North for a figure comfortably over the asking price of £5.75 million.  A Northern Irish-based investor has acquired the property.

The six-storey, mixed-use retail and office building provides the investor not only with the opportunity to benefit from Government income but also to let the fully fitted upper floor offices.

Richard McCaig, Associate Director of Osborne King, commented  
“This investment opportunity attracted keen interest, not only from local parties, but also from investors based in Dublin and London as well as international investments funds. There has been significant activity in the office sector over the last 24 months and the property represented a rare opportunity to acquire a prime building in Belfast’s most desirable office location.  We are pleased to have delivered a successful sale and achieved what we believe to be a strong price for the asset.”

Osborne King has been retained by the new owner to let the upper floors, which offer accommodation ranging from c. 3,500 sq ft – 17,000 sq ft and the company is hopeful of achieving a rent somewhere in excess of £16.00 per sq ft.

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