Belfast commercial property site sold by Nama

The National Asset Management Agency (Nama) of the Republic of Ireland government has confirmed the sale of a commercial property site in Great Victoria Street in Belfast.

The site was originally going to be the location of the tallest building in Belfast, but was repossessed before the planned 37-storey apartment block began construction. It is understood that Lissan Coal Company of Cookstown have purchased the property, and that a planning application to construct a petrol station has already been lodged. The site was purchased for £7million during the property boom, but is expected to have been sold by Nama for considerably less given the large fall in values of commercial property in Belfast and throughout Northern Ireland.

If you require legal advice in respect of a purchase or sale of a commercial property in Northern Ireland, contact one of the commercial law solicitors in Wilson Nesbitt in Belfast by calling 0800 840 9294.

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