Retail parks in Londonderry and Omagh sold for £43.4m
- Published
The Showgrounds Retail Park in Omagh has been sold for £26.7m
Two UK property firms have bought retail developments in Londonderry and Omagh.
Lisnagelvin Retail Park in Derry has been bought by M&G Real Estate for £16.7m.
In 2014 the same company bought Fountain House on Donegall Place in Belfast for £13m.
Tristan Capital Partners/Pradera have bought the Showgrounds Retail Park in Omagh for £26.7m.
Earlier in 2015 another Tristan Capital Partners joint venture paid £34m for the Erneside Centre in Enniskillen.
Both developments were sold by the Ballymena-based Corbo group.
Some of Corbo's bank loans were sold to US investment funds Davidson Kempner and Kennedy Wilson in 2014 and that is understood to be a factor in the decision to sell.
The Belfast law firm Tughans acted for Corbo and its head of real estate Phyllis Agnew said the deals were "a significant boost to inward investment and a positive sign for the local economy".