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10/12/2002
Bloomfield shopping centre sells for £61m
Belfast commercial property consultancy Lisney has confirmed that Bloomfield Shopping Centre and Retail Park in Bangor has been sold to a private Northern Ireland property company for £61m.
Lisney handled the sale in conjunction with London-based commercial property agents Cushman & Wakefield Healey & Baker. Lisney confirmed that a sale by current owners, Haslemere Estates Management, to the purchaser had been agreed and would be completed in the coming week. Michael Hopkins of McKibbins Commercial acted on behalf of the purchaser.
The sale price makes the transaction the largest single asset property deal in Northern Ireland this year, and the third largest single asset investment ever in Northern Ireland behind Castlecourt Shopping Centre and Forestside Shopping Centre in Belfast. The deal represents a net initial yield of 5.58%.
Commenting on the sale, Andrew Marsden, Investment Director of Lisney said: “We’re delighted to have been involved in the sale of Bloomfield Shopping Centre and Retail Park, which is regarded as one of the top schemes in Northern Ireland. We received significant interest in the property, not only from local investors, but also from UK institutions and property companies and I am pleased to say that we were able to find the right buyer at the asking price. The strength of the asset is evidenced by the price achieved.”
Bloomfield Shopping Centre & Retail Park is widely recognised as Northern Ireland’s leading out of town shopping centre. In the retail hierarchy Bloomfield Shopping Centre has the third highest 'Zone A' rents topped only by Castlecourt Shopping Centre and Forestside Shopping Centre.
Bloomfield Shopping Centre comprises a total of 212,000 square feet (20,000 sq m.) on a single level mall with anchor tenants Marks and Spencer and Tesco, together with an additional 43 units.
The Retail Park also provides approximately 78,000 square feet of retail warehousing for McDonald’s, Quincys Family Restaurant, Xtravision and a Tesco Filling Station.
(SP)
Lisney handled the sale in conjunction with London-based commercial property agents Cushman & Wakefield Healey & Baker. Lisney confirmed that a sale by current owners, Haslemere Estates Management, to the purchaser had been agreed and would be completed in the coming week. Michael Hopkins of McKibbins Commercial acted on behalf of the purchaser.
The sale price makes the transaction the largest single asset property deal in Northern Ireland this year, and the third largest single asset investment ever in Northern Ireland behind Castlecourt Shopping Centre and Forestside Shopping Centre in Belfast. The deal represents a net initial yield of 5.58%.
Commenting on the sale, Andrew Marsden, Investment Director of Lisney said: “We’re delighted to have been involved in the sale of Bloomfield Shopping Centre and Retail Park, which is regarded as one of the top schemes in Northern Ireland. We received significant interest in the property, not only from local investors, but also from UK institutions and property companies and I am pleased to say that we were able to find the right buyer at the asking price. The strength of the asset is evidenced by the price achieved.”
Bloomfield Shopping Centre & Retail Park is widely recognised as Northern Ireland’s leading out of town shopping centre. In the retail hierarchy Bloomfield Shopping Centre has the third highest 'Zone A' rents topped only by Castlecourt Shopping Centre and Forestside Shopping Centre.
Bloomfield Shopping Centre comprises a total of 212,000 square feet (20,000 sq m.) on a single level mall with anchor tenants Marks and Spencer and Tesco, together with an additional 43 units.
The Retail Park also provides approximately 78,000 square feet of retail warehousing for McDonald’s, Quincys Family Restaurant, Xtravision and a Tesco Filling Station.
(SP)
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