close

Radisson Blu Belfast on the market with £16m price tag

Radisson Blu Belfast

CBRE Hotels has put up for sale the Radisson Blu Hotel Belfast by private treaty, as well as an adjoining 60,000 square feet of office space.

The four-star Radisson Blu was purpose-built and first opened in September 2004 in the historic Gasworks area of the city.

The entire property, including offices and 120-room hotel, has been valued at around £16 million.

Story continues below
Advertisement

The hotel has seven meeting rooms which can be combined with a capacity of 300 delegates.

There are extensive food and beverage facilities including The Gasworks Restaurant with 110 covers and The Gasworks Bar with 80 covers.

The hotel operates under the Radisson Blu brand with a 20-year management agreement in place with SAS/Rezidor Hotels from September 2004.

The operator has an option to extend the agreement for five years.

Paul Collins, executive director of hotels at CBRE, said: “We are expecting significant interest in the Radisson Blu Hotel, which is one of the Belfast’s premier offerings and has always maintained a strong occupancy rate.

“After a period of inactivity, buyers are now back in the market and keen to take advantage of acquisition opportunities in the current climate.

“The property is competitively priced at a significant discount to replacement cost.

“Belfast is one of Europe’s key tourist destinations and will continue to be going forward.

“The adjoining extensive Lighthouse office building provides flexibility to extend the hotel facilities or to create a valuable investment.

Tags : belfastRadissonRadisson Blue Belfast
Sam Lewis

The author Sam Lewis

Leave a Response