A BELFAST city centre site which has planning approval for more than 150 apartments has been put on the market for £3.25 million.
The build-to-rent development on Scrabo Street, opposite the existing Quay Gate House, comprises 10 studios, 51 one-bedroom and 90 two-bedroom apartments overlooking the River Lagan and the Titanic Quarter.
Developers Vinder Capital and Aldgate Developments had originally planned a £25 million luxury scheme on the site, with work due to have started earlier this year.
But the 0.74 acre site remains brown-field, and its owners have decided to walk away.
The £3.25m sale is being handled by Savills, who say the buyer will have the opportunity to develop a residential development of scale for rent or sale.
Planning permission also includes generous ground floor amenity space, management suite and gym. In addition, an external amenity space with roof top terrace at 10th and 18th floors is also allowed for.
Unit sizes range from 3,983 sq ft for the studios, 23,207 sq ft for the one-beds and 60,321 sq ft for the two-beds.
The scheme fits in with Belfast's bid to promote more inner-city living, with the council’s target of growing the population of the city to 66,000 by 2035.
Savills director Neal Morrison said: “Whether the purchaser decided on a build-to-rent or build-to-sell development, demand for units in this future development will be strong given its prominent location and the amenity space allowed for in the planning permission.
“We expect strong interest throughout the sales process from developers and investors alike.”
