Council Seeks Powers to Introduce Business Rates
19th Nov 2018
A disused office building in Belfast could be transformed in student housing to meet the growing demand for purpose-built student accommodation.
Situated on Donegall Street beside the Ulster University's Belfast campus, the Marshal Building is on the market with offers being sought in the region of £425,000.
Consisting of 8,724 sq ft, the building is currently arranged to provide a self-contained retail unit on the ground floor, with office accommodation on the three upper floors.
Subject to the correct planning permission, the offices could be used for a variety of uses, including residential or student housing.
The building is expected to achieve significant interest, with director of CBRE Lisa McAteer adding: "Properties within this vicinity have been attracting a high level of interest due to ongoing redevelopment and regeneration. We are anticipating significant interest in these properties, and it will be very exciting to see the attention the area will attract."
Elsewhere, work continues on the new Ulster University, which is due for completion in 2019. The £250 million investment will see the campus increase in size to 75,000 sq m and will welcome up to 15,000 students and staff, creating 8,000 jobs.
Ms McAteer added: "Within the next five years this area will be unrecognisable given the major investment in Royal Exchange as well as the completion of the Ulster University campus and the former Belfast Telegraph building."
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