Savills, the international real estate advisor, has today announced details of a unique opportunity to acquire Northern Ireland’s premier leisure destination – the Odyssey Pavilion, part of the landmark Millennium development project in Belfast city centre. The multi-functional entertainment venue, which adjoins the very successful Odyssey Arena and W5 Science Centre, features a 12 screen multiplex cinema, ten-pin bowling alley, an IMAX Cinema and a range of restaurants, bars and leisure facilities.
The Odyssey Pavilion comprises a total of 15 leisure based units extending to a total gross internal area of over 218,000 sq ft and occupies a prominent quayside river position. It acts as a gateway to the ever expanding Titanic Quarter which now hosts the Titanic Belfast signature tourism attraction, the Paintworks Film Studio, Belfast Metropolitan College, Premier Inn, the Public Records Office (NI) and the Northern Ireland Science Park. The Odyssey Pavilion is being widely marketed by Savills, seeking bids in excess of £10,000,000 (Ten Million Pounds), subject to contract and exclusive of VAT.
Being sold on the instructions of John Hansen, KPMG, as administrator of Odyssey Pavilion LLP, it presents a significant opportunity to purchase a valuable asset with a view to repositioning the scheme as a leading brand destination and appealing to a broader visitor base and leisure market.
“Belfast is already a very popular tourist destination with approximately 7 million visitors each year who generate a total annual spend of circa £313 million. With the recent addition of the internationally acclaimed Titanic Belfast visitor attraction, which is expected to attract over 500,000 visitors a year, we expect the leisure pound to become even stronger in the city, making this opportunity even more attractive. We appreciate the significance the overall Odyssey complex once had in helping to put Belfast on the visitor and leisure destination map and are focused on achieving the best result possible to ensure it continues to be a world class facility. The word ‘Odyssey’ represents a long and eventful journey and we hope that through this sale we can put the Pavilion firmly on a new and exciting path in that journey and help the whole development realise its full potential.”
Details of the opportunity are available at www.savills.com/odysseypavilion