Causeway Asset Management has agreed a lease on Nine Lanyon Place, one of the most prominent office buildings in Belfast city centre with the Department of Finance’s Properties Division.
This large office transaction contract will see various Northern Ireland Civil Service (NICS) departments and public sector bodies occupying 150,000 sq ft of Grade A office space set over six floors.
Damian Mitchell, director at Causeway Asset Management, said:
“We have been working closely with the Department of Finance’s Properties Division over the past several months to facilitate its requirements. This deal provides the NICS with the transitional space it needs for workforce consolidation in a prime city centre location.
“We knew when we launched our refurbishment plans for Nine Lanyon Place back in December 2017 that there was significant demand for office space in Belfast city centre. Over the last six months we’ve experienced a high level of interest from FDI investors and professional firms who are considering locating to Belfast or expanding their operations here. We are delighted to conclude our contract with the NICS to lease the building with immediate effect.”
A Department of Finance’s spokesperson said:
“This lease will allow the Public Sector to consolidate operations from various locations across the city ensuring our assets are more efficiently managed and help to realise some significant cost savings.”
Lambert Smith Hampton acted as letting agents on the deal.
Stuart Draffin, director and head of agency at Lambert Smith Hampton in Belfast, said:
“This is a very significant lease and we are proud to have led the negotiations on what is one of the largest office transactions ever completed in Northern Ireland. Causeway Asset Management’s willingness to be flexible and work closely with interested parties to provide the space and terms to meet their specific needs was crucial in securing this letting.
“Belfast is fast gaining a reputation as a centre of excellence across a number of sectors, as evidenced by the level of interest in Nine Lanyon Place, and it is great to see the city taking its place on the global stage.”