'Opportunities of this nature, in such a tightly held location, are exceptionally rare': Prime Northern Ireland bar investment hits market with £3.5m price tag
Henry’s Bar & The Jailhouse offers a rare fully let city centre opportunity, delivering strong income and long-term growth potential in the heart of Belfast’s hospitality quarter.
Savills has been appointed to bring to market Henry’s Bar & The Jailhouse, a high-quality, freehold public house investment in Belfast city centre, with a guide price in excess of £3.5 million.
Situated on Joy’s Entry, one of the city’s most established and characterful hospitality locations, the property represents a rare opportunity to acquire a fully let, income-producing asset within Belfast’s core licensed quarter.
The property extends to approximately 4,418 sq ft and comprises two complementary trading venues: Henry’s Bar and The Jailhouse. The asset underwent a comprehensive refurbishment and redevelopment in 2018, transforming a former storage building into a modern, high-performing hospitality destination.
Henry’s Bar & The Jailhouse is fully let to 3 Wise Men Pubs Limited, part of the Belfast-based Clover Group, on a 20-year lease from October 2017. The current passing rent is £200,770 per annum, with five-yearly upward-only rent reviews linked to RPI, offering investors secure income with strong reversionary potential.
A purchase at the guide price reflects a net initial yield of 5.39%, with the potential to rise to over 8% by 2029 through a combination of index-linked growth and a fixed rental uplift.
Belfast continues to demonstrate strong fundamentals as a hospitality investment location, supported by a growing population, a vibrant tourism sector, and ongoing public and private sector investment, including major infrastructure such as the new Grand Central Station.
Megan Houston, associate director at Savills Northern Ireland, said: “Henry’s Bar & The Jailhouse is a standout asset within Belfast’s hospitality market, combining a prime city centre location with a well-established trading history and a strong covenant.
"The level of reversion built into the income profile will be particularly attractive to investors seeking both security and future growth. Opportunities of this nature, in such a tightly held location, are exceptionally rare.”
The property occupies a prominent position within immediate proximity to Victoria Square, the Cathedral Quarter and a range of major office developments, ensuring consistent footfall and a diverse customer base throughout the day and evening.