Wirefox plans Grade A office development following accquisiton of Oxford And Gloucester House

Wirefox Director of Investments Steven Flannery

Wirefox, the leading property investment and development firm, has acquired Oxford and Gloucester House on Chichester Street in the centre of Belfast for an undisclosed sum.

The company plans to redevelopment the site in the near future to provide Grade A office accommodation.

Currently leased to the Department of Finance and Personnel the prominent building comprises of nearly 70,000 sq. ft. of office accommodation.

Oxford and Gloucester House is the latest acquisition for the Holywood based company which has assets across the UK and Ireland.

Steven Flannery, Director of Investments at Wirefox, said:

“Wirefox has a diverse range of property within its portfolio and we expect to expect make further investments within Northern Ireland in the coming months.

“According to Lisney’s 2015 Commercial Property Report, at the end of last year there was only 150,000 sq. ft. of Grade A office accommodation available in Belfast, and that figure has reduced since

“There is a market requirement and Wirefox is confident that over the coming years we will play our part in placing Belfast on strong footing by providing more Grade A office capability.

“The purchase of Oxford and Gloucester House follows our procurement of 42,000 sq. ft. of office accommodation at 39 Corporation Street in Belfast, which is part of a broader office portfolio strategy.”

Belfast commercial law property specialists Davidson McDonnell advised Wirefox throughout the acquisition.