Forestside and Foyleside shopping centres go on sale

Forestside Shopping Centre is believed to collect an annual rental income of about £3.5m

Two of Northern Ireland's major shopping centres Forestside and Foyleside have been put on sale for a deal that could exceed £70m.

Forestside Shopping Centre in south Belfast is more than 336,000 sq ft and is home to Sainsburys, Marks and Spencer, Dunnes Stores and Next.

Foyleside Shopping Centre in Londonderry is more than 98% let.

Its stores include Dunnes Stores, Frasers, Marks and Spencer and H&M.

Estate agency Savills said Forestside had 35 fully-let retail units and full planning permission for three restaurants in a car park next to the Upper Galwally entrance.

Foyleside Shopping Centre is situated on the bank of the River Foyle in Derry

It is understood that Forestside has annual rental income of about £3.5m and its owner is seeking offers of over £37m.

Foyleside's annual rental income is thought to be more than £4m and it is on the market for just over £34m.

The centres were last on sale in 2014 and were bought by London-based investment firm Kildare Partners for a reported £135m.

Kildare Partners founder Ellis Short previously owned Sunderland Football Club in the north-east of England.

Ben Turtle, the head of Savills Northern Ireland, said: "These sales represent a rare opportunity for investors to acquire 100% prime and dominant retail schemes that consistently outperform from an occupational and consumer perspective.

"We have no doubt they'll be well received in the market."