A Manchester property investment company has bought Lisnagelvin Retail Park in Londonderry for £9.7 million.
The 62,000 square foot shopping venue, which is home to retailers including Next, Matalan and TK Maxx, is the second acquisition in the city by David Samuel Property Management.
It bought Crescent Link Retail Park in 2019 and then also snapped up Holywood Exchange Retail Park in Belfast for £18.9M in December 2020.
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The move highlights continued interest in out-of-town shopping centres in Northern Ireland from Great Britain and further afield, Judith Allen from law firm TLT which advised on the deal said.
“We’re delighted to support David Samuel Properties with another addition to their extensive portfolio through this major retail park acquisition, and are encouraged by the significant interest they continue to show in the NI market.
“It is great to see a continued high level of interest from both 海角视频 and overseas investors in Northern Ireland’s real estate market and expect this trend to remain as investors continue to benefit from high yields.”
Judith Allen was assisted in the deal by banking partner Richard Houliston and associate Mary-Jane Byrne.
Andrew Berkeley, Managing Director at David Samuel Properties, welcomed the deal.
“We are delighted to have successfully concluded a further addition to our Retail Park portfolio with TLT who, as usual, have been professional and commercial throughout. We look forward to working with them on future transactions.”