Windsor House On Market For £5 Million
CBRE appointed to manage sale of Ireland’s tallest commercial building
Belfast, June 2014 – CBRE has been appointed to handle the sale of Ireland’s tallest commercial building, Windsor House. The Bedford Street property, which has been put on the market seeking offers over £5 million, is a landmark city centre building that extends to approximately 122, 550 sq ft.
The 22-storey building is ideal for a complete refurbishment to provide quality office accommodation and is also suitable for a number of alternative uses including hotel, residential and student accommodation subject to planning.
The property currently produces a gross income of approximately £204,144 per annum and the sale is expected to generate significant interest due to the limited availability of quality office accommodation the Belfast market.
Gavin Elliott, CBRE said, “Windsor House offers a unique opportunity to refurbish a landmark building, in a tax efficient manner. Belfast has developed into one Ireland’s premier business cities and has been extremely successful in attracting Foreign Direct Investment. However, one issue has been the lack of quality office space in the city and a comprehensive refurbishment of this property will provide much-needed quality office accommodation as well as strong fundamentals for rental growth in the future.”
The 80-metre building, located in the heart of Belfast’s office district has some 22 upper floors of offices, incorporates two retail units and 96 car-parking spaces. CBRE is seeking offers of £5,000,000 for their client’s interest and a purchase at this level would reflect a capital value price of £40.80 per square feet.
CONTACT: Gavin Elliott – 00 44 (0)28 9043 6750 or e-mail:email@example.com
About CBRE Group, Inc.
CBRE Group, Inc. ((NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 130 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie./ni