Ireland's tallest building sold for over £20m

Ireland's tallest building, The Obel in Belfast, was sold this month for more than £20 million.

The building, which comprises of 52,462 square feet of grade A office accommodation and 282 luxury apartments, was first launched in 2005 to off-plan buyers and buy-to-let investors. The property was enventually completed in 2011, but repossessed one year later by the Bank of Scotland because of its developer's debts.

The development is located on Donegall Quay and was bought by a large American company, according to the Belfast Telegraph. The newspaper reports that 15 parties were competing for the complex, although the final sales price has not been confirmed.