Ulster Bank is reported to have paid £12.50 sterling per sq ft for a 33,000-sq-ft office building in Morrison Development Partnerships' Danesfort development in South Belfast.

The bank is locating its Account Management Centre in the building which was developed on the site of the former Northern Ireland Electricity headquarters. NIE remain as tenants on the site. The letting to Ulster Bank leaves less than 30,000 sq ft available to let.

Brian Nixon of The Whelan Partnership, the letting agent for Danesfort, said: "The fact that Ulster Bank chose Danesfort after considering more than Morrison Homes has developed 57 apartments and has received planning permission to develop a further 70 within the Danesfort complex. It is awaiting a decision following a public inquiry to develop a 50,000 sq ft supermarket.