Northern Ireland

Government to rent office block hit by property slump

Lanyon Plaza
Image caption Lanyon Plaza was affected by the depressed office rental market.

A major office development in Belfast city centre has been let to a government agency after nearly four years on the market.

Lanyon Plaza is a double-tower building opposite Central Station.

The Department of Finance and Personnel says the tenant will be the Land and Property Service.

In June, the Irish government's National Asset Management Agency (Nama) provided £15m to help complete Lanyon Plaza and a neighbouring building.

Work on the two buildings had been on hold as a result of poor market conditions.

The building is owned by the Belfast development firm William Ewart Properties and also contains retail and residential space.

Stuart Draffin from lettings agency BTW Shiells said it was the largest office letting in Belfast in several years.

Nama controls billions in problem property debts passed on by Irish banks.