Wed, 27 Apr 2011 | COMMERCIAL PROPERTY
A major Irish property developer has acquired a former tea warehouse in Belfast city centre.
Village Homes purchased the Nambarrie building on Waring Street, which is close to the city's popular Cathedral Quarter, through CBRE for £1.2 million. The commercial property, which has been up for sale since 2008, had an asking price of £2.25 million.
Village Homes now plans to develop the building into an eight-storey complex comprising 56 one-bed apartments, which are tipped to sell for £90,000 each on completion. The complex will also include a range of retail outlets.
A local commercial property expert told the Belfast Telegraph, “This is another positive development for Belfast. The fact that somebody is prepared to come in and put their money where their mouth is and put planning applications in - which if approved, could lead to building - all helps Belfast.”
The development firm has also submitted a planning application to construct 75 apartments a building located in Belfast City centre's Queen's Square. The 14-storey property was formerly occupied by Grafton Recruitment. Property industry experts believe that Village Homes' development plans are a sign that the commercial property market in the city is on the rise once again.
Exceptionally busy MOT testing station and vehicle repairs/servicing business which has been in the same hands for over 30 years and proved particularly profitable for the vendor.
Long established haulage contractor operating over 25 years is now seeking a well-earned retirement. The business serves a large number of regular clients and enjoys a fantastic reputation within the industry, operating with a modern fleet and tradin...
This is perhaps the best pub in the county that we have offered for sale in many years and produces superb net profits for our clients. This is genuinely a rarity to acquire such a successful pub with extensive freehold property which has had substan...
FREEHOLD
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