Boots signs 10 year Belfast lease as Donegall Place building gets refurbished

Boots has signed a 10 year lease on its flagship store on Donegall Place as plans go ahead for the offices in the building to undergo a 4,651m sq ft refurbishment.

Bywater Properties, Ashmour and LRE Capital have announced plans for teh Donegall Place building that has served as the flagship location for health and beauty retailer Boots in Belfast. Boots has signed a ten-year lease to stay in the unit on the ground floor of the building.

In addition to Boots taking the ground floor for the next ten years, building owners Bywater Properties, Ashmour and LRE Capital have confirmed that they will be moving forward with plans for a 4,651m sq ft office refurbishment in the space above the retail unit.

Bywater Properties and Ashmour have also recently received planning permission to redevelop the North Street/Smithfield Market area car park site into a huge 260,000 sq ft mixed office and retail complex. The firm plans to incorporate new underground parking levels on the 1.24 acre site and office and retail space to support SMEs. Building work is expected to start next year and will create approximately 650 new jobs.

Theo Michell, principal at Bywater Properties, commented: "The long-term deal with Boots gives us clarity to move ahead quickly with a very contemporary refurbishment of the space above Boots on Donegall Place which, on the first floor, has a fantastic 4.26m ceiling height and an opportunity for a really on-trend exposed fit out which we’ve not seen much of in the core Belfast market, but we know occupiers increasingly want.

Ashmour director Ashley Stewart also commented: "Belfast is experiencing a high level of redevelopment at the moment and we know the demand is there for top quality office space. The city offers an attractive proposition for ambitious companies who are hoping to grow their operations, whether they are locally grown or setting up in Northern Ireland for the first time, and we look forward to working with a new tenant to deliver space which will work for them."

Source: Written based on press release