Construction is officially underway on Northern Ireland's first Staycity aparthotel, a £20 million development in Belfast city centre that is set to open in May 2027.

Developer Lotus Property is leading the transformation of the former Beaufort House office building on Wellington Place into a nine-storey, 98-key aparthotel. This project marks the Dublin-headquartered company's entry into the Northern Irish market and will serve as the launch site for its latest design concept.

Once completed, the site will feature a mix of studio and one-bedroom apartments. Additional guest amenities are set to include a reception, gym, bar, restaurant, and retail space, designed to cater to both business and leisure travellers. The development is strategically positioned to meet the growing demand for longer-term stays and city-based tourism.

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Killowen Contracts has been appointed to carry out the construction, with funding for the project provided by Danske Bank.

Alastair Coulson, Managing Director at Lotus Property, said: "We're delighted to see work underway on this important city centre development, which reflects strong confidence in Belfast's continued growth. Partnering with Staycity on the launch of its new brand concept makes this an especially exciting project, bringing a high quality aparthotel offering to the city and revitalising the city centre streetscape."

Andrew Folwer, UK Development Director at Staycity Group, said: "Being on site in Belfast is another significant milestone for Staycity as we not only make our first move into Northern Ireland but also gear up to bring our fresh new brand concept to life. Belfast city continues to thrive with local and international visitors and major events in the pipeline."

Paul Herbison, Corporate Manager at Danske Bank, said: "This development reflects the strong momentum we continue to see across Belfast's commercial and visitor economy. We are pleased to back Lotus Property with funding for this aparthotel, which combines a strong operator, a prime location and a clear long-term vision for growth whilst also supporting local construction, tourism and hospitality jobs. We're looking forward to seeing the building open for guests in 2027."

Brian McGovern at Killowen Contracts, said: "It has been fantastic to begin construction works on this landmark project in the centre of Belfast. We look forward to working closely with Lotus Property and Staycity on this active repurpose to deliver a high-quality aparthotel ready to welcome guests in 2027."