The former headquarters of Cool FM and Downtown Radio is up for sale, just weeks after Bauer Media moved into its new Belfast base.
The German-owned radio group, which also owns Greatest Hits NI, Hits Radio NI and Downtown Country, relocated to Belfast Harbour’s City Quays 3 office tower on the Lagan waterfront at the end of April.
It ended a 50-year relationship with its former home in Newtownards.
Downtown Radio first took to the air from the Kiltonga Industrial Estate in the Co Down town in March 1976, becoming the north’s first commercial radio station.
Cool FM started broadcasting 14 years later.
Bauer Media Audio’s former office building and recording studio (bottom right) in the Kiltonga Industrial Estate, Newtownards.
The two buildings on the western outskirts of Newtownards are now on the market for £425,000.
Property agency Colliers said the 1.2 acre site has redevelopment potential within the largely industrial location.
The sale includes Bauer Media’s 7,260 sq ft former recording studio building and a 4,305 sq ft office building, which are linked by a glazed walkway.
The site sits next to a number of established business and manufacturing operations, including Lakeland Diaries, ThyssenKrupp, Bridgedale Outdoor, Archem NI, PiP Chemicals, The Stove Yard and Pattons Bakery.
Cool FM and Downtown were acquired by the Hamburg-based Bauer Media group in 2007.
Founded in 1875, the family-run German multimedia conglomerate owns a huge portfolio of publications and stations across Europe, including Today FM in Ireland and Absolute Radio in the UK.
Bauer’s new Belfast office is spread across 6,500 sq ft on the 14th floor of City Quays 3.
It’s the latest media company to relocate its operations to the harbour office estate.
Clarendon Dock and City Quays are already home to Mediahuis, UTV and Bauer’s rival radio station U105.
The latter, which is ultimately owned by the Rupert Murdoch-founded News Corp, last week confirmed the departure of five presenters following a stalemate over new contract negotiations.
Belfast Harbour’s City Quays 3 (centre) rises above City Quays 2 (right), home to UTV and U105.
In a short statement, the radio station ended two weeks of speculation after regular presenters Denise Watson, David Johnson, Linda Cullen, Rick Nugent and Stephen Woods disappeared from the airwaves.
The station has declined to comment on further speculation surrounding a potential sale of the business.
Recently published accounts for U105 reveal the City Quays 2-based station returned to profit last year, despite revenue falling by 15.7%.
The media company made a narrow profit of £81,000 on a turnover of £2.29 million for the year ending June 29 2025.
It followed a loss of £354,000 in 2024 on a turnover of £2.72m.
U105 is part of Dublin-based Onic (formerly Wireless Ireland), which includes a portfolio of regional Irish stations such as 96FM and LMFM.
The company is ultimately owned by the Delaware-based News Corp, now controlled by Rupert Murdoch’s son Lachlan.