Belfast Etap Hotel Sold For £6.6 Million
Published on Jan 21 2015 3:56 PM in Hotel
A popular Belfast hotel and bar in Belfast has been sold for ¬£6.6 million, according to commercial property firm CBRE.
CBRE Global Investors bought the building home to budget hotel brand Etap on Dublin Road, Belfast. Etap will remain the key occupant on the 17-year lease.
CBRE Northern Ireland director Gavin Elliot has noted the increased demand for budget accommodation for for tourists and business travelers to Belfast. ‚ÄúThe investment offers a low-risk return due to the quality of the tenants, length of lease and RPI linked to uplifts every year,‚Äù he added.
Once known as the 'The Golden Mile' the Dublin Road has become increasingly popular due to the establishment of various fast-food restaurants, bars, nightclubs and cinema.