Location: Historic Gasworks Area, Belfast, Northern Ireland, UK
Name: The Radisson Blu Hotel Belfast
Guide Price: £16m, including the office space
No. of Keys: 120 rooms and suites
The Opportunity: This four-star, purpose-built hotel, opened in 2004 is unusual in that it has 60,000 sqf of office space, which makes it ideal to combine hotel with co-working, as is becoming a trend today. The office space has just been vacated by a government tenant.
Situated in the revitalised Gasworks business area, the hotel combines a tranquil riverside setting with easy access to Belfast city centre. Close to attractions like Titanic Belfast and the Botanic Gardens.
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.
CBRE, handling the sale, 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.
Main Photo: The hotel exterior
Current Owner: Currently managed by Radisson
Flag and Management: As above
Financials: Financials available upon signing LOI/NDA
Guide Price: £16m, notionaly £10m for the hotel and £6m for the offices
Guide Price per Key: £83,333… for the hotel
Date Posted: September 2020
THPT Comment: A great opportunity to acquire this four-star hotel, in the centre of Belfast, with a reputable brand, opportunity for co-working spaces, at a great price!
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