Belfast’s first low carbon aparthotel, room2 in Queen Street, has been offered for sale with a guide price of £21.2 million.
Having enjoyed a high-profile opening in October 2023, room2 features 175 rooms, four state-of-the-art collaborative event spaces, and a stylish restaurant and bar.
The nine-storey hotel runs on 100% electric and low-carbon renewable energy, making it one of the greenest aparthotels in Northern Europe.
Designed to be ‘a place to live, not just stay’, room2 reflects a commitment to sustainability and comfort, with many of its amenities adhering to a circular economy model, embodying the core ethos of ‘people and planet.’
Brian Lavery, managing director of CBRE NI, revealed that the firm was bringing the city centre asset to the market at its annual commercial property outlook event at ICC Belfast attended by more than 500 guests.
The NI Investment Fund, managed by CBRE Capital Advisers, provided construction finance for room2, which its London-based operator Lamington Group described as a cross between a home and hotel..
Mr Lavery said: “Northern Ireland’s hotel sector enjoyed a record-breaking year in 2024. With £57 million invested across eight sales, the market has set new benchmarks in both transaction volume and trading performance.
“Revenue per available room rose by 8% in the first nine months of 2024 in Belfast and across Northern Ireland, and this is a trend we expect to continue throughout 2025.
“The combined impact of new developments, refurbishments, and key transactions demonstrates the continued growth potential within this sector. We have no doubt that room2 Belfast will attract significant attention from parties hoping to invest and do business in Northern Ireland.”
New hotelier brands including Adagio, Staybridge Suites, and Yotel are also set to begin construction in the city, further showcasing Belfast’s international appeal.
The CBRE NI Outlook 2025 event, the theme of which was ‘Real Estate and the AI Landscape’, provided a platform for industry leaders to reflect on market performance and anticipate future trends.
AI and business strategist Elin Hauge from Norway delivered the keynote address and challenged attendees to think critically about AI adoption, emphasising its strengths, limitations, and potential environmental impact.
She said: ”Beyond the fog of hype and political noise, AI is about mathematical algorithms applied to large amounts of data. It’s not magic.
“It’s the natural next step of digitalisation, and it will affect all industries. Commercial property is no exception. The question is only which players will understand and grasp the pragmatic opportunities of automation and resource optimisation and who will not.”
