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Donegall Square South, BT1

2017-10-31 00:00:00
2854
Reference number: REF109772
102,400 £
Square Feet 256 Sqft
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Location details
Address
Donegall Square South
Posted
Oct 31, 2017
Additional information
Reference Number
REF109772
Title
Donegall Square South, Belfast BT1
Description
Brief History of The George Best HotelLocated on the junction of Donegall Square and Bedford Street, The George Best Hotel is in a prime city center location overlooking Belfast City Hall and accompanying gardens.The Grade B1 listed building was built by Henry Seaver and completed in 1904 as Scottish Temperance. In 2013, the building was put on the market as an investment and refurbishment opportunity. The Building was converted to a hotel on the same year and and was approved on 2014. A further planning application was proposed on 2014 for realigning of the Donegall Square South/ Bedford Street junction of traffic lights and lamp posts. Liverpool based developer acquired the former Scottish Mutual building during 2017 and invested for refurbishing the building for hotel use. The former building still retains many of it\'s original features across all six floors, making it the perfect heritage redevelopment.Single Hotel Room investment.Investment HighlightsPricing from £80,00095% Occupancy rateFully managedPremium hotel in central location7% net yield for years 1-38% net yield for year 49% net yield for year 5-10There is an option for the developer to buy back the units at 106% of the purchase price after year 3, plus an additional uplift of 2% per annum thereafter
Square Feet
256 Sqft
Number of Floors
2
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