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room2 Belfast 32-36 Queen St 175 Room Serviced Apartment Belfast BT1 6EE £21,750,000 (£124,286/Room) 6.35% Net Initial Yield
Investment Highlights
- New build, upscale aparthotel arranged over nine storeys totalling 70,695 sq ft.
- High ESG credentials inc WELL Platinum certification, fully electric & EPC A.
- Central location c.300 metres from Donegall Square & Belfast City Hall.
- FRI lease with a long unexpired term of 17.5 yrs to break & 22.5 yrs to expiry.
- Five yearly CPI linked rent reviews subject to a collar & cap of 0.5% & 3.5%.
- 175 bedrooms catering for long and short stays with communal guest facilities.
- Held freehold and long leasehold.
- Excellent connectivity situated just 0.4 miles to Belfast Grand Central Station.
- Passing rent of £1,475,000 per annum equating to a low £8,429 per bedroom.
- Let to Lamington Group Opco Ltd with an institutionally backed parent guarantee.
Executive Summary
Opened in October 2023, room2 Belfast is a long-let freehold investment offering attractive index-linked income backed by a sustainably designed aparthotel.
Property Facts
| Price | £21,750,000 | Costar Property Class | B |
| Price Per Room | £124,286 | Total Plot Size | 0.25 ac |
| Sale Type | Investment | Property Size | 70,695 sq ft |
| Yield | 6.35% | No. Rooms | 175 |
| Tenure | Freehold | No. Floors | 9 |
| Property Type | Hospitality | Year Built | 2023 |
| Property Subtype | Serviced Apartment | Corridor | Interior |
| Price | £21,750,000 |
| Price Per Room | £124,286 |
| Sale Type | Investment |
| Yield | 6.35% |
| Tenure | Freehold |
| Property Type | Hospitality |
| Property Subtype | Serviced Apartment |
| Costar Property Class | B |
| Total Plot Size | 0.25 ac |
| Property Size | 70,695 sq ft |
| No. Rooms | 175 |
| No. Floors | 9 |
| Year Built | 2023 |
| Corridor | Interior |
Amenities
- Fitness Centre
- Restaurant
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wi-Fi
- Smoke-Free
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | sq ft |
|---|---|---|---|
| Suite | 175 | £198.00 | - |
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room2 Belfast | 32-36 Queen St
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