An iconic listed building in Belfast city centre has been sold for £5.7 million to The Martin Property Group, a local investment and development property company.
Ross’s Court, which was previously a soft drinks factory run by W A Ross, is one of the biggest retail sites to be put on the market in the city in recent years.
The historic three-storey building is located at William Street South in the city centre and had previously been occupied by Argos from 1998 until it moved out in March 2021. The property comprises approximately 57,000 square feet and boasts a prime city centre location, adjacent to a number of multinational retailers and grade A office buildings.
The building, which is grade II listed, is based around a number of different structures comprising of timber framed, part cast iron, part steel and part masonry structures supported off timber piles. It was originally constructed as six buildings which were altered to form a single building with a large footprint in 1997/1998.
Gavin Elliott, senior director at CBRE NI, said: “Ross’s Court is one of the most iconic buildings within the city of Belfast and has potential for a wide range of uses across the retail, office and hospitality spaces. The sale reflects an active investment market which is drawing interest, both locally and from further afield, from a range of buyers and sets the tone for a busy period in the months ahead.”
Paul Martin, from Martin Property Group, said: “We are delighted to add Ross’s Court to our portfolio; such a superb building in the heart of prime Belfast. We look forward to playing our part to restore it to its former glory.
“Belfast and Northern Ireland in general is a great place to do business and we are committed to deploying more capital there. We have a continued appetite for investment and development opportunities across all sectors of the market throughout the rest of the UK and Republic of Ireland.”