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.
Offered for sale is a highly regarded firm of commercial building consultants and surveyors, dedicated to providing expert advice and guidance in order to maximise the value of clients’ building assets.
The company designs, manufactures, installs, and maintains bespoke dust control equipment across the UK. Priding itself on its extensive in-house knowledge, the company provides a full range of filters, fans, and ducting, as well as offering annual C...
This business is a true powerhouse, offering customers everything they need to achieve their desired spaces in one convenient place. Whether they’re undertaking a full-scale renovation or searching for that perfect finishing touch, the solutions offe...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.