Kainos to sell half of proposed HQ site

IT provider Kainos said it planned to sell half the site of its planned new headquarters in Belfast to Queen’s University.

The new 80,000 sq ft building will be able to support the firm’s growth plans and has the capacity to accommodate up to 3,000 people. Kainos said it only needed 50% of the site and the university would use the rest for student accommodation.

“It remains the company’s intention to fund the construction using cash on the balance sheet and, subject to final design, costs and board approval, will represent a capital investment of between £27m and £30m,” Kainos said.

Reporting by Frank Prenesti for Sharecast.com