Three prominent Belfast city centre commercial sites snapped up by local investor

Belfast investment company Alterity Investments has bought three landmark retail and office sites in the city for an undisclosed sum.

It has bought the Mayfair Building, Arthur Chambers and State Buildings which have frontages on to Cornmarket / Arthur Square, Arthur Street and William Street South and adjoin each other.

Retail tenants in the buildings include Hotel Chocolat, Jack Wills, Jigsaw, Molton Brown, Ernest Jones, Demalogica, Mint Velvet and Kiko. State Buildings also provides refurbished office accommodation, with one vacant floor available for immediate occupation.

The company said it intends to develop the upper floors of the State Buildings and Arthur Chambers which are currently in need for refurbishment.

“This is a strategic acquisition that perfectly complements Alterity’s existing holdings in Belfast and reaffirms our commitment to the city centre,” Richard Faloon, Commercial Director of Alterity Investments, said. “We were attracted both by the location and the tenants in the buildings, many of which are brands we don’t have in our portfolio elsewhere in the UK.

“Through a range of investments in new developments such as The Keep and existing listed buildings such as those we are announcing today, Alterity is playing a key role in enhancing the retail and leisure offering of Belfast city centre.”

The Mayfair Building comprises seven retail units and 22,234 square feet of vacant upper floor accommodation, Arthur Chambers has three retail units and 4,352 square feet of upper floor accommodation and the State Buildings has two retail units with 12,558 square feet of upper floor grade A offices.

Operating throughout the UK, Alterity has assets in excess of £100m spread across various sectors. The company is currently developing The Keep on Castle Lane and owns a number of other buildings in central Belfast.

Mark Thallon, partner at TDK Property, who advised Alterity on the acquisition, welcomed the deal.

“These buildings occupy a prime location within Belfast City Centres main retail pitch, immediately adjacent to Victora Square and the Keep, they already house some of the UKs best known retail brands. We look forward to working alongside Alterity on their exciting plans for the buildings, which will complement the existing tenants and Belfast’s position as a leading retail destination.”