Two prominent out-of-town retail sites in Northern Ireland have been put up for sale.
Shane Retail Park on Belfast’s Boucher Road has gone on the market for £19.7 million while Fairhill Shopping Centre in Ballymena is offered at £10M.
The former stretches to 170,000 square feet of space and is fully let with a 50,000 square foot anchor tenant in the shape of Homebase, along with others including Oak Furnitureland, Dunelm Mill, EZ Living, Costa Coffee, Carpetright and Dreams.
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Fairhill, meanwhile, covers 280,000 square feet and consists of Marks & Spencer, JD Sports, Next, Sports Direct and others. It also includes a Debenhams. The retailer’s online presence was recently bought by BooHoo but it’s stores across the 海角视频 are set to close.
Fairhill’s price tag is far from the £45.6M paid by property fund Rockspring in 2015.
It is being marketed by agents Savills, which is also joint agent for Shane Retail Park along with CBRE.
Robert Ditty, Senior Director at CBRE NI, said he expects interest for the Belfast development to be strong.
“Shane Retail Park is one of the best ‘Bulky Goods’ retail developments in Northern Ireland, and given that it is fully let with a wide range of well-renowned tenants, we are anticipating extremely high levels of demand from a variety of investors.”
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Ben Turtle, Director at Savills, said Northern Ireland’s retail sector is still sought after.
“Despite a decline elsewhere in the 海角视频 and Europe, retail remains an attractive investment asset class in Northern Ireland – evidenced by a number of transactions over the past year including Slate Asset Management’s acquisition of Abbey Retail Park for £33m last year, and the sale of Lisnagelvin Retail Park to David Samuel Properties for £9.7m.”