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27/10/2010
Hoteliers Sign Property Deal Worth £3m
Barclays Corporate has granted a £3m loan to businessmen to assist with the purchase of a prime building in Belfast city centre.
Blackstaff House in Great Victoria Street, currently on a long-term lease to the BBC, will be bought by Edward and Patrick Simpson.
The businessmen, whose interests include Benedicts Hotel, said they were keen to diversify their investment portfolio.
Gavin Campbell, relationship director at Barclays Corporate, said: "It is a good example of the type of strategic and innovative transactions that are possible despite difficult market conditions."
Sean Lavery, the firm's tax partner, said: "The economy has been through tough times recently but this transaction is a demonstration of the confidence that still exists in the market for prime real estate deals."
Business advisors BDO were also involved in the commercial property transaction.
(GK/BMcC)
Blackstaff House in Great Victoria Street, currently on a long-term lease to the BBC, will be bought by Edward and Patrick Simpson.
The businessmen, whose interests include Benedicts Hotel, said they were keen to diversify their investment portfolio.
Gavin Campbell, relationship director at Barclays Corporate, said: "It is a good example of the type of strategic and innovative transactions that are possible despite difficult market conditions."
Sean Lavery, the firm's tax partner, said: "The economy has been through tough times recently but this transaction is a demonstration of the confidence that still exists in the market for prime real estate deals."
Business advisors BDO were also involved in the commercial property transaction.
(GK/BMcC)
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