CBRE Belfast are delighted to announce the completion of the sale of Scottish Provident Building
The property is situated in the heart of Belfast City Centre, located at the prestigious business address of Donegall Square West and is considered to be the most prominent building in the City.
The asset sold for £21m to a private Northern Irish Investor. The purchase price reflects a net initial yield of 3.75% with an equivalent yield of 5.00%. Given the current volatile market conditions the client was extremely pleased with both the price and the 5 day timeframe achieved.
This sale follows the successful completion of Oyster Royston House (£31m, 4.25%) in November and further demonstrates CB Richard Ellis Belfast's ability to provide a premier consultancy service to clients."