Business

Riverside offices put on market for £6m

The offices at Clarendon Dock are on offer for £6m
The offices at Clarendon Dock are on offer for £6m

A RIVERSIDE office in Belfast has been put on the market for £6 million.

The property at Clarendon Dock is currently occupied by examinations body CCEA.

The offer comes in what agents CBRE have called a "huge year" for Northern Ireland commercial property.

The 47,000 sq ft office was built in 1996 in an area which CBRE said was "attracting a large amount of FDI occupier interest".

CBRE director Robert Ditty said: “29 Clarendon Dock is an iconic office building with a fantastic location beside the river in Belfast City Centre. It offers a strong investment opportunity with an attractive net initial yield of 8 per cent and capital value of £128 per sq ft."

He said 2015 had so far "been a huge year for investment in Northern Ireland, with nine transactions totalling approximately £58.6m completed in Q1 – compared to £5.02m in the same period in 2014".

"Transactions include the government’s acquisition of the Causeway Exchange office building in Bedford Street for £12.15m and the Hastings Hotel Group’s purchase of Windsor House, Bedford Street for £6.5m.

“We expect significant interest from a host of local, national and international investors.

"The office sector is currently extremely bouyant with buyers seeking to acquire office assets offering the potential to capitalise on both rental and capital growth. No.29 Clarendon Road offers this potential with the rent due to be reviewed August 2016."