Belfast's ETAP Hotel put up for sale for £7m
The budget ETAP Hotel in Belfast city centre has been put up for sale for more than £7m.
The 146-room property is currently let to Accor UK Business and Leisure Hotels Ltd, part of AccorInvest, which operates over 760 hotels in 27 countries.
The annual rent is £535,839 and the 13-year lease is due to expire in August 2030
CBRE Northern Ireland has been instructed to seek offers of more than £7.175m for the building.
The seven-floor hotel was constructed on Dublin Road in 2013 and includes a 2,500 sq ft vacant retail unit.
Gavin Elliott, senior director at CBRE Northern Ireland, said the sale presented a strong opportunity at "an exciting time for the Belfast hotel sector".
"It has been a good year for the hotel industry in Northern Ireland with occupancy levels rebounding to those last experienced in 2019 and average room rates continuing to perform at record highs," he said.
"By May 2023, the revenue per available room in Belfast was up 52% against the same period during 2019 showcasing the growth in this sector.
"With a number of other new schemes announced in recent months, it is clear there is room and an appetite for further growth."
