Northern Ireland

Wirefox: Holywood property firm buys Belfast office complex

General view of Belfast city centre
Image caption Very little grade A space has been developed in Belfast since the property crash

County Down-based property firm Wirefox has bought the Oxford and Gloucester House office complex in Belfast city centre.

The 70,000 sq ft development had been on the market with an asking price of £5.75m.

Wirefox plans to redevelop the site in the near future to provide Grade A office accommodation.

In 2015, the company bought another office building on Corporation Street in Belfast for almost £5m.

Steven Flannery, the firm's director of investments, said there was "a market requirement" for more grade A space and the firm would "play its part" in supplying it.

Portfolio

Grade A space is new or refurbished open-plan buildings in prime locations.

Very little grade A space has been developed in Belfast since the property crash.

Wirefox is based in Holywood and is controlled by the businessman BJ Eastwood.

Last year, the firm bought substantial housing development lands near Lisburn in County Antrim.

Another firm associated with Mr Eastwood, Dialectic Partners, also bought a property portfolio from the US investment fund Cerberus.

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