• ETAP Hotel in Belfast Listed for Sale   

Investment Highlights

  • Belfast, the capital of Northern Ireland is the 12th largest city in the United Kingdom and the 2nd largest on the island of Ireland. The city is located approximately 165 km (103 miles) north of Dublin and 120 km (75 miles) south east of Derry-Londonderry.

  • The property is situated on the corner of the Dublin Road and Harmony Street. The Dublin Road is a major thoroughfare linking the City Centre to South Belfast and is a well-established commercial, leisure and residential location.

  • The property is only a few minutes’ walk from Belfast’s prime retailing core and is within close proximity to Great Victoria Street Train Station and Europa Bus Station.

  • The building comprises a 146 en-suite bedroom hotel set over ground and six upper floors. The hotel was constructed in 2013 and includes a 2,500 sq ft vacant retail unit to the rear in shell condition.

  • The hotel is let to Accor UK Business & Leisure Hotels Limited trading as ETAP Hotel until 25th August 2030 (6.92 years unexpired) at a current passing rent of £535,839 per annum which reflects £3,670 per room.

  • The FRI lease is subject to yearly rent increases to RPI capped at 3.5% per annum.

  • We are of the opinion that the hotel is under rented and potentially reversionary on lease expiry.

  • AccorInvest is one of the world’s leading hoteliers operating in 27 countries with over 761 hotels managed by Accor.

  • Accor UK Business & Leisure Hotels Limited have a CreditSafe rating of 86/100 which reflects “Very Low Risk”.

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