SERVICES


Tuesday December 4, 2012

Ireland's Tallest Building Repossessed

The Obel Tower in Belfast has been shortlisted as one of the ugliest buildings in the UK (Photocall)

The Obel Tower in Belfast has been effectively taken into administration, after its owners got into financial difficulties.

At 85 metres high, it's the tallest building on the island of Ireland, and was built during the property boom in 2005 for €95m.

But the building has never been too popular - it's been shortlisted as one of the ugliest buildings in the UK.

The 28-storey building is on Donegall Quay in the city, and there were plans for 180 luxury apartments, a hotel and prime office space.

When they first went on sale, studio apartments fetched €110,000 and penthouses half a million euro.

But the property crash dried up demand in the city, and much of the building now lies empty, apart from the sixth floor which houses top international legal firm Allen and Overy.

KPMG had been appointed after building contractors and construction companies Obel Ltd, Obel Offices Ltd and Donegall Quay Ltd which control the massive building, applied for insolvency.

Follow irishexaminerus on Twitter

CURRENT ISSUE


RECENT ISSUES


SYNDICATE


Subscribe to this blog's feed
[What is this?]

POWERED BY


HOSTED BY


Copyright ©2006-2013 The Irish Examiner USA
Terms of Service | Privacy Policy
Website Design By C3I