Flagship Belfast hotel is sold off for undisclosed sum

By John Mulgrew

Published 02/09/2015

Flagship Belfast Hotel Is Sold Off For Undisclosed Sum Sold: The Fitzwilliam Hotel

One of Belfast’s best known hotels has been sold off for an undisclosed sum. The Fitzwilliam Hotel in the heart of the city was owned by Graffan No 1 Ltd – a firm which counts businesswoman June Burgess among its directors.

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It’s understood the business has now been taken over by Hotel Partners, the group which had run the Fitzwilliam in Belfast, along with its namesake in Dublin. The sale of the hotel was revealed in a report by commercial property agents CBRE.

It said the prominent development on Great Victoria Street “changed hands” during the summer. The luxury hotel, which opened in 2009, employs around 70 people. The business has undergone significant restructuring in the last two years.

The Graffan No 1 Ltd company posted profits of more than 480,000 during the last accounts ending December 2014. Turnover at the business was 5.3m for the same period. The Fitzwilliam Hotel first opened its doors back in 2009, and boasts 130 rooms along with a bar and restaurant.

The sale is the latest movement in Belfast’s burgeoning hotel market. Just last week it was revealed planning permission had been submitted for a new hotel in Bank Square, while last month the Belfast Telegraph revealed work will start in September on the long-awaited hotel project at the former Scottish Mutual building. There are around 20 developments proposed for the city, but it’s unlikely all will be built.

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