Dukes at Queen's, a well-known hotel in the heart of Belfast's student district, has recently emerged on the market with an asking price of £3 million. Closed to the public since April 2022, this 32-bedroom establishment has been under the ownership of Eamon and Eileen Diamond since 2009. Their extensive hospitality portfolio also includes The Rusty Saddle pub in Belfast and the Marine Court Hotel in Bangor, County Down, showcasing their longstanding presence in the Northern Irish hospitality sector.

The hotel’s closure was partly due to its involvement in a long-term contract with the UK Home Office, which has seen some of Belfast's accommodations repurposed under specific government arrangements. In August of last year, Dukes at Queen's became a focal point of unrest during anti-immigration protests in the area, where the windows of the hotel were vandalised alongside another nearby hotel, the Holiday Inn. This incident highlighted the ongoing tensions surrounding immigration in Northern Ireland, reflecting broader societal issues that impact local businesses.

CBRE, the real estate firm handling the sale, underscores the hotel’s prime location at the junction of Botanic Avenue and University Street, a vibrant area frequented by students, tourists, and professionals alike. This significant footfall makes it a desirable asset in an evolving market. According to Lisa McAteer, a senior director at CBRE NI, the appeal of this venue lies in its proximity to Queen's University and various local attractions, which should attract potential investors looking for opportunities in a bustling sector.

Interestingly, this is not the first occasion Dukes at Queen's has been put on the market; it was previously listed in 2015, also at £3 million. After undergoing major renovations under the Diamonds' stewardship, the hotel features a bar and a restaurant called The Practitioner, enhancing its appeal as a hospitality venue.

The recent surge in hotel listings in Belfast reflects a growing trend in the city's hospitality market. For instance, House Belfast, another boutique hotel on Botanic Avenue, has also been listed, while Andras House is planning a £17 million development for a new hotel nearby, further indicating the area’s burgeoning hotel sector. Recent sales in the market include notable transactions like the Ramada hotel in Portrush, which sold for over £2.75 million, and Dalata Hotel Group’s acquisition of the Holiday Inn for £18.5 million.

Investors appear to be increasingly optimistic about Belfast's hotel market, with occupancy rates reportedly climbing consistently. Brian Lavery, managing director of CBRE Belfast, remarked on this growth, noting that the city has seen four consecutive years of improving occupancy rates, which bodes well for both the hotel industry and the wider economy.

As Dukes at Queen's seeks new ownership, it stands as a testament to the shifting dynamics within Belfast’s hospitality landscape, poised to potentially adapt to new trends and demands in the coming years.


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Source: Noah Wire Services