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Obel Studios, Obel Building, Donegall Quay, Belfast, BT1 3NG

Investment Property For Sale by Private Treaty

Price Offers in Excess of £2,000,000


  • Opportunity to acquire 26 fully let studio apartments in Belfast City Centre
  • Part of the landmark Obel Tower Development which comprises 233 luxury waterfront apartments in the tallest building in Ireland.
  • Producing a gross income of £152,640 p.a and net £109,641 p.a after rates, service charge, ground rent and insurance costs.
  • Opportunity to grow the gross income to £166,200 on achieving full rental value for all of the units.
  • Strong capital and rental growth in the apartment sector offers significant asset management opportunities.
  • Seeking offers in excess of £2m which reflects a gross yield of 7.2% and a net of 5.32% with reversionary potential of 5.98%.


The property is situated on Donegall Quay within Belfast City Centre overlooking the river Lagan.

The surrounding area comprises a mixture of residential apartments, offices and restaurants.

Obel Studios are well positioned within close proximity to international occupiers such as Baker McKenzie, Citi Bank and Allen & Overy. Excellent transport links are provided via rail and road while George Best airport is located within 2.5 miles.

Full Description

The property comprises 26 fully let self-contained studio apartments arranged over three floors. 

The studios are located on floors 1 to 3 of the Obel Tower and comprise all available studios in the building.

The common parts have been recently refurbished to a high standard to include improvements to the external landscaping, entrance lobby, passenger lifts and corridors.

The Studios

Each studio in the portfolio offers a secure, multi-functional living space that provides the perfect hub for experiencing city life and all that Belfast has to offer.

A studio apartment is a large multi-functional room that features a kitchen, living area and bedroom with a separate bathroom and storage accessed off the entrance hall.

Viewing Details

By special appointment with the sole letting agent, Lisney.


    The units range in size from 335 sq.ft. to 478 sq.ft.

    All are let on standard residential tenancies of no more than 12 months with a passing rent between £425 pcm and £550 pcm. 

    The total passing rent is £152,640 p.a. which is considered reversionary to £166,200 p.a.

    Cost Summary

    A summary of the total annual costs are as follows;

    Service Charge: £18,137

    Rates: £16,080

    Insuranc: £3,582

    Ground Rent: £5,200


    We are instructed to seek offers in excess of £2,000,000 (Two Million Pounds), subject to contract and exclusive of VAT.

    A purchase at this level reflects a gross initial yield of 7.2% netting back to 5.32% after costs.

    The opportunity also offers potential reversionary growth to 5.98% after operating costs.

    N.B. In accordance with the head lease the vendor will not consider offers from short term letting operators.

Contact Details

Address: Montgomery House, 29-33 Montgomery Street, Belfast BT1 4NX
Telephone: +44-2890-501501 or you can also email us at

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or contract.

2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

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