A Northern Ireland property development company has bought the Scottish Mutual Building in Belfast for an undisclosed sum from administrators Kroll.
The building, which had been owned by developer Lawrence Kenwright, was in the process of being developed into the George Best Hotel when it was placed in administration in 2020 and has now been bought by Londonderry-based Martin Property Group. The company said the building will now see significant investment in its “restoration, preservation and enhancement” to become a boutique hotel.
Martin Property Group has been active in the Northern Ireland and wider UK real estate market in recent months.
