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Brief History of The George Best Hotel

Located on the junction of Donegall Square and Bedford Street, The Geroge Best Hotel is in a prime city centre location overlooking Belfast City Hall and accompanying gardens.

Brief History of The George Best Hotel

The Grade B1 listed building was built by Henry Seaver and completed in 1904 as Scottish Temperance. In 2013, the building was put on the market as an investment and refurbishment opportunity. The Building was converted to a hotel on the same year and and was approved on 2014. A further planning application was proposed on 2014 for realigning of the Donegall Square South/ Bedford Street junction of traffic lights and lamp posts. Liverpool based developer acquired the former Scottish Mutual building during 2017 and invested for refurbishing the building for hotel use. The former building still retains many of it’s original features across all six floors, making it the perfect heritage redevelopment.

Investment Highlights

95% Occupancy rate
Fully managed
Premium hotel in central location
7% NET yield for years 1-3
8% NET yield for year 4
9% NET yield for year 5-10

There is an option for the developer to buy back the units at 106% of the purchase price after year 3, plus an additional uplift of 2% per annum thereafter.

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