A few weeks ago, around 14,000 sq. ft. of Grade A office space became available in Belfast City Centre. The property of Gloucester Street has Linsey appointed to manage the letting. The leading commercial property agent will be in charge of letting Northern Court, which is office accommodation that is spread across 13,785 sq. ft. of office space. This office space will be available to rent in its entirety or portioned off and rented floor by floor.
The building in question is currently undergoing an extensive level of refurbishment. This refurbishment is being carried out in order to offer fully air conditioned, Grade A accommodation for the rental market. The first phase of this work is expected to last around 6 weeks. It is thought that the space should be fit for occupation at the end of April.
This refurbishment will be able to meet the demand for Grade A office space within Belfast. It has been documented that there has been a shortage of this type of space available, therefore Northern Court could be in high demand when it comes in to the market. There has been a high level of interest in the project from both indigenous as well as FDI occupiers.
The work at Northern Court is considered to be in line with the ongoing trend for new offices being offered. These new offices that are coming on to the market, are being offered through refurbishment. Hopefully this new trend for refurbishing office spaces will attract tenants into Belfast City centre. Also, the gap is thought to be a way of bridging the gap while the pipeline is filled with newer office developments.
The Landlord of the building has said that they are encouraged by the state of the city centre office market. Due to this positive outlook the landlord has decided that they will be refurbishing the building on a speculative basis. Northern Court is in an accessible location and close to the City Hall which would mean that the property is expected to be on the market for a very short time.