The Obel building in Belfast reportedly sold for over £20 million

THE Obel in Belfast – regarded as the tallest building north and south of the border – has been sold to an undisclosed American investment buyer for more than its £20m price tag.

The development at Donegall Quay, comprising offices and 280 apartments, had been on the market for one month.

The 28-storey building was almost repossessed in November 2013 after owners/developers Donegall Quay Limited owed the Bank of Scotland £4 million.

Most of the office block is let to the international law firm Allen & Overy.

However, many of the apartments are lying empty.