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Belfast’s Fitzwilliam Hotel brought to market for £32m

Hotelier Michael Holland has appointed real estate firm CBRE to market his five-star Belfast property, the Fitzwilliam Hotel, with a guide price of £32m.

The 146-bedroom freehold property, which opened in 2009, was acquired by Holland for approximately €23m (£19.6m) in 2015 through one of his corporate entities.

The hotel sits next to Belfast Grand Central Station on Great Victoria Street. Its facilities include an award-winning bar and restaurant, a private two-bedroom suite and a penthouse suite.

It is operated directly by Fitzwilliam Hospitality Group – which also owns the Fitzwilliam Hotel in Dublin along with several venues including Glovers Alley, Floritz, Cellar 22 and the Bailey.

A buyer will have the option to retain the current brand under licence or rename the property.

In June, the current owners obtained planning approval to build 52 extra bedrooms, a conference space, a gym and a spa with an eight-treatment-room facility and swimming pool.

Official figures from the Northern Ireland Statistics and Research Agency show the region drew 5.1 million overnight visitors in 2025. Overnight tourism spending reached £1.2bn over the same period, representing a 9% rise on the previous year.

Paul Collins, head of hotels at CBRE, said: “Belfast’s hospitality market has strengthened considerably over recent years, supported by rising visitor numbers and greater corporate activity. We expect strong interest from investor groups, particularly given the quality of the hotel and being unencumbered.”

Fergal O’Connell, ground chief executive of Fitzwilliam Hospitality, added: “Having been involved with The Fitzwilliam Hotel Belfast since its opening in 2009, we are incredibly proud of what has been achieved over the past 17 years. The hotel has established itself as one of Belfast’s leading luxury hospitality destinations and, with planning permission now secured for a significant expansion, we believe this is the right time for a new owner to build on that success and take the hotel into its next phase of growth.

“We remain fully committed to our wider hospitality interests, including The Fitzwilliam Hotel Dublin, where we have recently completed a substantial refurbishment programme and obtained planning permission to extend the hotel and are excited about the opportunities ahead.”

Belfast building costs now support a control premium

News Analysis

The relevant precedent for this valuation is CBRE’s earlier Belfast sales work, because it shows how far the agent has moved up the market. In 2020 Paul Collins marketed the Radisson Blu and adjoining offices at £16m, arguing that buyers had returned after a period of inactivity. By 2023 CBRE offered the leased ETAP Hotel as occupancy regained pre-pandemic levels, but that asset gave its buyer an Accor income stream rather than operational control.

That progression explains the premium over CBRE’s earlier mandates. Investors must decide whether control and a route to grow justify paying more than they would for a tenanted asset. In 2024 the Northern Ireland Hotels Federation counted £100m of live hotel projects while warning that inflation, construction costs and scarce affordable finance made acquisition faster and cheaper than development. The valuation puts that argument to a live test.

That cost advantage does not remove the competitive test. In February 2026, The Bedford was taking bookings for May after its conversion. The work produced 82 bedrooms and brought another premium operator into central Belfast. Fitzwilliam’s buyer inherits a trading business, but the valuation now stands against new supply whose owners have already absorbed the construction risk; The Bedford’s private backers completed their conversion before soliciting guests.

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Hotelier Michael Holland has appointed real estate firm CBRE to market his five-star Belfast property, the Fitzwilliam Hotel, with a guide price of £32m.

The 146-bedroom freehold property, which opened in 2009, was acquired by Holland for approximately €23m (£19.6m) in 2015 through one of his corporate entities.

The hotel sits next to Belfast Grand Central Station on Great Victoria Street. Its facilities include an award-winning bar and restaurant, a private two-bedroom suite and a penthouse suite.

It is operated directly by Fitzwilliam Hospitality Group – which also owns the Fitzwilliam Hotel in Dublin along with several venues including Glovers Alley, Floritz, Cellar 22 and the Bailey.

A buyer will have the option to retain the current brand under licence or rename the property.

In June, the current owners obtained planning approval to build 52 extra bedrooms, a conference space, a gym and a spa with an eight-treatment-room facility and swimming pool.

Official figures from the Northern Ireland Statistics and Research Agency show the region drew 5.1 million overnight visitors in 2025. Overnight tourism spending reached £1.2bn over the same period, representing a 9% rise on the previous year.

Paul Collins, head of hotels at CBRE, said: “Belfast’s hospitality market has strengthened considerably over recent years, supported by rising visitor numbers and greater corporate activity. We expect strong interest from investor groups, particularly given the quality of the hotel and being unencumbered.”

Fergal O’Connell, ground chief executive of Fitzwilliam Hospitality, added: “Having been involved with The Fitzwilliam Hotel Belfast since its opening in 2009, we are incredibly proud of what has been achieved over the past 17 years. The hotel has established itself as one of Belfast’s leading luxury hospitality destinations and, with planning permission now secured for a significant expansion, we believe this is the right time for a new owner to build on that success and take the hotel into its next phase of growth.

“We remain fully committed to our wider hospitality interests, including The Fitzwilliam Hotel Dublin, where we have recently completed a substantial refurbishment programme and obtained planning permission to extend the hotel and are excited about the opportunities ahead.”

Belfast building costs now support a control premium

News Analysis

The relevant precedent for this valuation is CBRE’s earlier Belfast sales work, because it shows how far the agent has moved up the market. In 2020 Paul Collins marketed the Radisson Blu and adjoining offices at £16m, arguing that buyers had returned after a period of inactivity. By 2023 CBRE offered the leased ETAP Hotel as occupancy regained pre-pandemic levels, but that asset gave its buyer an Accor income stream rather than operational control.

That progression explains the premium over CBRE’s earlier mandates. Investors must decide whether control and a route to grow justify paying more than they would for a tenanted asset. In 2024 the Northern Ireland Hotels Federation counted £100m of live hotel projects while warning that inflation, construction costs and scarce affordable finance made acquisition faster and cheaper than development. The valuation puts that argument to a live test.

That cost advantage does not remove the competitive test. In February 2026, The Bedford was taking bookings for May after its conversion. The work produced 82 bedrooms and brought another premium operator into central Belfast. Fitzwilliam’s buyer inherits a trading business, but the valuation now stands against new supply whose owners have already absorbed the construction risk; The Bedford’s private backers completed their conversion before soliciting guests.

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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.

The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making

The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.

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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution

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