Posted on Monday 22 February 2016 by Ulster Business

Osborne king sells former danske building

A former Danske Bank building in central Belfast has sold for “comfortably over” its £5.75m asking price, according to selling agents Osborne King.

It said a Northern Ireland-based investors has bought the Donegall Square North property, which consists of six stories of mix use retail and office buildings, part of which his occupied by government.

The upper floor offices, which range from 3,500 to 17,000 square feet, are currently vacant but Osborne King has been retained to let them and expects to achieve rent “in excess of” £16 a square foot.

Richard McCaig, Associate Director of Osborne King, said the property attracted interest from far and wide.

“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.”

And he said the commercial property market has picked up pace in the last few months.

“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.”


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