Investment Property
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+44 28 9024 1500
Additional Information
Bob W. - Long Income Investment - New Build Apartment Development Comprising 84 Serviced Apartments
INVESTMENT SUMMARY
Belfast, the capital of Northern Ireland, is the 12th largest city in the United Kingdom, and the 2nd largest on the island of Ireland.
The Bob W. serviced apartment complex is strategically located just south of Belfast City Hall, on the bustling Dublin Road, a hugely popular bar and restaurant area of the city.
The property is only a minute's walk from Belfast's prime retailing core and is within close proximity to Belfast Grand Central Station.
The building comprises an 84 en-suite bedroom apartment block set over 9 floors.
The building will PC in August 2026.
The entire upper floor of the building is let to Bob W. and a ground floor retail unit comprising 880sqft is available to lease in the open market.
Bob W. has a portfolio of more than 90 assets and 6,000 rooms across 17 European countries.
Leased term of 15 years with a tenant option to extend at Year 15, 20 & 25.
Year 1 - Fixed annual rent of £882,000 calculated as £10,500/unit p.a.+ VAT.
Year 2 - Fixed annual rent of £945,000 calculated as £11,250/unit p.a. + VAT.
Year 3 - Fixed annual rent of £1,008,000 calculated as £12,000/unit p.a. + VAT.
Annual CPI review thereafter floored and capped indexation from 0% to 3% per annum.
Offers in excess of £15.0 million (gross) are invited. The sale can transact either by way of the acquisition of the SPV or via an asset sale. Clearly, each transaction carries different Purchaser costs.
DATA ROOM
A data room is available for the property.
CAPITAL ALLOWANCES
The purchaser will have the benefit of all unclaimed capital allowances relating to the property. Further details are available upon request.
TITLE
The property is held freehold.
VAT
The property has been elected for VAT. It is envisaged the transaction will be treated as a TOGC.
SPV
The property is held in a single asset Special Purpose Vehicle domiciled in Northern Ireland. The Vendor will consider a sale of the SPV. Further details are available upon request.
AML
We are required to obtain evidence of the identity and proof of address of potential purchasers as part of mandatory anti-money laundering checks.
SALE DETAILS
Offers in excess of £15million (gross) are invited. The sale can transact either by way of the acquisition of the SPV or via an asset sale. Clearly, each transaction carries different Purchaser costs.
CONTACT DETAILS
Jonathan Millar FRICS
Capital Markets & Development
T: +44 7802 520 009
E: [email protected]
INVESTMENT SUMMARY
Belfast, the capital of Northern Ireland, is the 12th largest city in the United Kingdom, and the 2nd largest on the island of Ireland.
The Bob W. serviced apartment complex is strategically located just south of Belfast City Hall, on the bustling Dublin Road, a hugely popular bar and restaurant area of the city.
The property is only a minute's walk from Belfast's prime retailing core and is within close proximity to Belfast Grand Central Station.
The building comprises an 84 en-suite bedroom apartment block set over 9 floors.
The building will PC in August 2026.
The entire upper floor of the building is let to Bob W. and a ground floor retail unit comprising 880sqft is available to lease in the open market.
Bob W. has a portfolio of more than 90 assets and 6,000 rooms across 17 European countries.
Leased term of 15 years with a tenant option to extend at Year 15, 20 & 25.
Year 1 - Fixed annual rent of £882,000 calculated as £10,500/unit p.a.+ VAT.
Year 2 - Fixed annual rent of £945,000 calculated as £11,250/unit p.a. + VAT.
Year 3 - Fixed annual rent of £1,008,000 calculated as £12,000/unit p.a. + VAT.
Annual CPI review thereafter floored and capped indexation from 0% to 3% per annum.
Offers in excess of £15.0 million (gross) are invited. The sale can transact either by way of the acquisition of the SPV or via an asset sale. Clearly, each transaction carries different Purchaser costs.
DATA ROOM
A data room is available for the property.
CAPITAL ALLOWANCES
The purchaser will have the benefit of all unclaimed capital allowances relating to the property. Further details are available upon request.
TITLE
The property is held freehold.
VAT
The property has been elected for VAT. It is envisaged the transaction will be treated as a TOGC.
SPV
The property is held in a single asset Special Purpose Vehicle domiciled in Northern Ireland. The Vendor will consider a sale of the SPV. Further details are available upon request.
AML
We are required to obtain evidence of the identity and proof of address of potential purchasers as part of mandatory anti-money laundering checks.
SALE DETAILS
Offers in excess of £15million (gross) are invited. The sale can transact either by way of the acquisition of the SPV or via an asset sale. Clearly, each transaction carries different Purchaser costs.
CONTACT DETAILS
Jonathan Millar FRICS
Capital Markets & Development
T: +44 7802 520 009
E: [email protected]
Directions
57-63 Dublin Road, Belfast, BT2 7HE
Location
0 Nearest Schools
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