Construction has officially commenced on the £20m conversion of the former Beaufort House office building on Wellington Place in Belfast into a 98-key aparthotel, marking Dublin-headquartered Staycity Group's first entry into Northern Ireland and the launch site for the company's new brand concept.

The Belfast Telegraph reported that Northern Irish developer Lotus Property is leading the transformation of the nine-storey, 46,000 sq ft former HMRC building, with Killowen Contracts appointed as main contractor and Danske Bank providing funding support.

The completed scheme will deliver a mix of studio and one-bedroom apartments with fully fitted kitchens, alongside a gym, reception, bar, restaurant, and retail space, designed for both business and leisure travellers.

Alastair Coulson, managing director at Lotus Property, said the development reflects strong confidence in Belfast's continued growth and described the partnership with Staycity on the launch of its new brand concept as an especially exciting project that will revitalise the city centre streetscape.

Andrew Fowler, UK development director at Staycity Group, said being on site in Belfast marks a significant milestone as the firm makes its first move into Northern Ireland and prepares to bring its refreshed brand concept to life.

Paul Herbison, corporate manager at Danske Bank, said the development reflects strong momentum across Belfast's commercial and visitor economy, with the project combining a strong operator, a prime location, and a clear long-term vision for growth while supporting local construction, tourism, and hospitality jobs.

Brian McGivern, managing director at Killowen Contracts, described the appointment as a major milestone for the firm, adding that the project showcases its expertise in delivering complex, transformative schemes.

Read the full report on the Staycity Belfast construction commencement and development plans.