Four-Star Radisson Blu Belfast 120 Rooms With 60,000 sq. ft. Office Space For Sale

By Dev Anand | 16 September 2020

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.

A junior suite at the Radisson Blu Hotel Belfast

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

Tenure: Freehold

Flag and Management: As above

Financials: Financials available upon signing LOI/NDA

Agent: CBRE

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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