Deal close on Belfast Metropolitan College buildings
Belfast Metropolitan College is understood to be close to agreeing the sale of two of its former city centre buildings, with one earmarked for hotel development.
The Belfast Tech building and the former College of Business Studies building have been on the market for almost a year.
A deal is now close to sell both for a figure between £4m and £5m.
The Tech building has been earmarked for hotel development.
It is expected that the deal will be finalised within weeks.
The likely new owners are local developers, though some interest has been expressed from international groups.
Planning permission is in place for conversion of the Tech at College Square East into a hotel, though it is believed the conversion of the 160,000 sq ft building will be an expensive exercise.
The former College of Business Studies building in Brunswick Street is likely to be converted for office accommodation, or may even be demolished.
The Tech and the former College of Business Studies buildings have been on the market since Belfast Metropolitan College moved to new premises in Titanic Quarter last year.