Client: Private Building Owner, Belfast City Centre
Partner: Chris Johnston Group Project
Timeline: 2010 – 2018
Development Value: £5.8 million
Background
In 2010, a prominent city-centre building in Belfast stood vacant—an untapped asset lacking a clear path forward. Previous discussions included hotel development and traditional office use, yet none of these options offered the commercial return or long-term viability needed by the building's owner.
Chris Johnston Group, already an established national serviced office provider with years of experience developing, operating, and managing boutique workspaces across the UK, was brought in to explore strategic alternatives.
Founded on a track record of delivering profitable, fully-occupied office centres across multiple UK regions, the Group brought a holistic advisory and delivery model to Belfast: one that combined asset repositioning, development expertise, interior architecture, and proven operational management.
The Challenge
- A vacant building with no existing occupancy or fit-out
- Multiple early-stage development ideas but no viable financial strategy
- A need for a commercially sustainable model with above-market returns
- The owner's desire for minimum involvement but maximum yield
Our Role: Full Lifecycle Consultancy
Chris Johnston Group provided end-to-end leadership across every phase of the project, including:
Strategic Advisory
- Market and viability reports
- Business case modelling and financial projections
- Joint venture negotiation and structuring
Development Management
- Lead project management
- Full design consultancy and floorplan optimization
- Contractor procurement and fit-out oversight
- Phased, floor-by-floor delivery to enable simultaneous occupancy and refurbishment
Serviced Office Expertise
- Interior branding and boutique design
- Technology and building systems integration
- Development of client-facing service model
- Creation of operational and staffing framework
Sales, Marketing & Leasing
- Sales and leasing strategy from pre-launch
- Client acquisition and tenant onboarding
- Creation of waiting list demand before completion of later phases
- Achieved premium market rents in a competitive environment
Operational Management
- Chris Johnston Group directly operated the building and its serviced office centre from day one
- Created a service culture that attracted world-class tenants from finance, tech, and creative industries
- Full back-office, staffing, and facilities management
- Handled tenant relations, rent collections, and service delivery under Group oversight
The Joint Venture Model
An 8-year management JV was agreed, allowing the owner to:
- Owner investment in refurbishment and operations under CJG management and advisory
- Benefit from fully managed delivery and day-to-day management
- Share in profits generated by the now-fully let, market-leading office centre
- Receive a turnkey, profitable asset at the end of the term
Key Milestones
- 2010/11: Initial phase launched with Chris Johnston Group at the helm
- 2012: First floor operational, 100% let within weeks
- 2013: Centre recognised as Northern Ireland’s first boutique office space
- 2014: Project completion after a 36-month phased development (£4.5 million invested)
- 2014–2015: Received awards for Best Place to Work and Best Boutique Office Design in Belfast and Nationally
- 2018: Project JV term concluded, building returned to owner at full occupancy and profitability
Results
- 100% Occupancy Achieved Throughout All Phases
- Award-Winning Workspace attracting international clients
- Above-Average Headline Rents secured throughout the term
- Waiting List Demand established by Year 2
- Became Belfast’s #1 Serviced Boutique Office Centre
- Investor ROI Delivered On Time and On Target
- Asset Returned as a Fully Operational, Profitable Business Centre
Ongoing Impact
This case study is a testament to the Chris Johnston Group model: a full-service consultancy and operational partner that transforms underutilised buildings into thriving, income-generating assets. Today, the building continues to operate successfully, benefitting from the systems, design, and brand established by the Group during the JV.
Why It Worked
✅ End-to-End Delivery✅ Experienced Leadership at Every Stage✅ Award-Winning Design & Operational Execution✅ Market-Led Commercial Strategy✅ Turnkey Return for the Owner
About Chris Johnston Group
With a national footprint, Chris Johnston Group has spent decades at the forefront of the UK’s flexible workspace market. Specialising in serviced offices, asset repositioning, and commercial strategy, the Group offers:
- Serviced office delivery and operations
- Commercial property development strategy
- Design and branding for boutique workspaces
- Full consultancy from acquisition to stabilisation
From London to Belfast to Dubai, the Group has consistently delivered high-performance assets that outperform market expectations and deliver enduring value for landlords, investors, and occupiers alike.
