Chlorine Gardens
18 January 2018

Apartments in Belfast’s university area up for sale


A detached property that contains eight apartments in the university area and eight acres of land in north Belfast have been added to the market.

Chlorine Gardens, a tree-lined street that links Malone Road with the Stranmillis Road, is at the heart of the university area and has always been a prime student spot.

A fully furnished apartment building in Chlorine Gardens was added to the market this week. This investment has the potential to bring in an annual income in excess of £65,000. This building is currently being listed with Campbell Cairns.

The property contains eight apartments and has been refurbished throughout in recent years. It is on the market for £795,000.

7.84 acres of farmland is also for sale on the Shore Road. Selling agents O’Connor Kennedy Turtle and JA McClelland & Sons highlight that this land is suited to grassland and arable usage.

The spot is described as “an interesting long-term speculative purchase”.

In the Republic, Patrizia Immobilien, a German investment manager has described Dublin as “one of the top investment cities in Europe.” James Muir, the company’s managing director for the UK and Ireland, highlighted: “One of the top investment cities in Europe is Dublin. The Irish capital stands out for sharply rising residential property prices and rents, as well as little new construction so far.”

Last month, Ireland witnessed the sharpest increase of pace in the construction activity since June according to Ulster Bank Construction Purchasing Manager’s Index (PMI)

This index highlighted that activity in the sector increased across residential, commercial and infrastructure segments. The headline PMI index rose to 58 in December, an increase from 56.7 in November. Numbers above 50 signifies expansion while figures below signifies contraction.

The chief economist for the Republic of Ireland at Ulster Bank, Simon Barry, highlighted that these construction firms experienced “strong and faster rates of expansion in December.” Mr Barry continues that the index performance illustrates a “decidedly upbeat picture” of economic performance at the end of last year.

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