NI: Z Property Developments, which was set up last year has acquired a prime Belfast site with planning for serviced apartments.
The start-up bought the plot on Dublin Road, which used to be home to a restaurant and a Chinese takeaway, for £14 million.
Last year Belfast City Council granted planning permission to John Smyth Estates to develop 85 serviced apartments on the site. Z Property Group, a holding company for Z Property Developments, has now bought the site and demolition will begin this month.
Scott Kennedy, who set up the company said: “Z Property aims to build on the success of our existing projects and bring the quality standards we insist upon into this new and exciting city centre project. This project will further enliven the Dublin Road and act as a catalyst for further developments in the area.”
Construction begins in January next year and will take around 18 months.
It’s been a busy time for the extended stay sector in Belfast with one planning permission recently changed from offices to an aparthotel and Room2 announced it was opening a Belfast property next year.
