NORTHERN BUSINESS: Developers will have to spend much more than a penny to purchase one of the most unique commercial properties in Belfast city centre.
The site of the former underground public toilets in Shaftesbury Square at the junction of the Dublin Road and Great Victoria Street is expected to fetch around £400,000 sterling (€652,848) when it goes to auction in May.
The site has full planning permission for the construction of a modern restaurant and wine bar on two levels with the total area comprising 100 sq mtrs per floor.
Located close to the city's main nightclub area, the toilets are owned by Rossmore Developments which bought them from Belfast City Council in 1998.
The Victorian public conveniences stand in the shadow of the Ulster Bank and the famous statues locally known as Overdraft and Underdraft.
Mr Brian Patterson, director of property agents Patterson Millar, said he was expecting a high turn-out at the auction on May 24th in the Wellington Park Hotel. Mr Patterson said those who were feeling flush should expect to pay between £350,000 and £450,000 for the site.
"It's not often we get to market a site so prominent - and unusual - as this," he said yesterday. He added that the site could not be viewed inside for health and safety reasons.
"The toilets are currently disused, flooded with rain water and filled up with rubbish. But now they have been granted planning permission for a restaurant and wine bar I really think this is an opportunity not to be wasted."
A similar set of toilets on the docks sold two years ago for £300,000.
