McAleer & Rushe buys two major development sites in Belfast
The property firm, McAleer & Rushe, is understood to have bought two major development sites in Belfast.
The sites are the former Belfast tech building at Brunswick Street and Clarendon House office block on Adelaide Street.
Both have planning permissions to demolish the existing buildings and construct new office blocks.
McAleer & Rushe, based in Cookstown, County Tyrone, is one of Northern Ireland's biggest property firms.
However, it has not embarked on any major local projects since the downturn.
The firm has remained active across the rest of the UK, particularly in the construction of hotels.
It has also worked on a large scale on student accommodation schemes and recently sold two sites in Bournemouth and Portsmouth to a student housing firm.
Very little new office accommodation has been developed in Belfast since the property crash.
However, a significant number of inward investors will need high quality offices over the next three to five years.