NewsPrime Hotel investment comes to the Market 17.10.08
RHM Commercial has been instructed by local developer Corner Blok to sell the Premier Inn Hotel that sits on a gateway site facing the junction of Waring Street and Donegall Street, at the entrance into historic Cathedral Quarter.
Corner Blok identified the site as the perfect location for a new location to help satisfy the boom in demand for hotel accommodation in the City Centre from business people and leisure break visitors.
The hotel has been built behind a listed facade and provides 171 en-suite bedrooms, 5 meeting rooms and a 200 seated contemporary bar.
Cathedral Quarter is rapidly emerging as Belfast's prime eating, entertainment and hotel location.
Nick Rose commented that "in these uncertain times this investment opportunity provides a safe haven for an investor - the hotel is let on a new 35-year lease, the rent is indexed from year 5 onwards and Premier Inn is now the largest hotel group in the UK and Ireland with over 550 hotels and 35,000 rooms".