Belfast landmarks sold in €70m deal

Two of Belfast’s landmark buildings have been sold in a £50m (€70.5m) property deal, it was disclosed today.

The sale of department stores, McAuley House and Cleaver House in Donegall Place, is confirmation of growing business confidence in the city centre, it has been claimed.

Belfast-based developers Andrew Creighton and Frank Boyd bought McAuley House and Mr Creighton paid £20m (€28m) for Cleaver House, opposite City Hall.

Last year the two men paid more than £100m (€141m) for the entire Northern Ireland portfolio of the cross-border property company Dunloe Ewart.

It included 12 acres beside the showpiece Waterfront Hall, 14 acres on the far side of the River Lagan, and a five acre shopping development site in Royal Ave.

Mr Creighton is also bidding to purchase development rights on the city’s 185-acre Titanic Quarter site on Queen’s Island, east Belfast, which is expected to go for £40-£60m (€56-84m).

A Belfast property source said: “These two individuals are clearly confident about the future of Belfast city centre.”