Foyleside Shopping Centre in Londonderry bought for £27m

The centre was being sold by London-based investment firm Kildare Partners

Foyleside shopping centre in Londonderry has been bought by a group of local Northern Ireland investors for £27m.

The centre was being sold by London-based investment firm Kildare Partners.

It also recently sold Forestside shopping centre in Belfast.

Donall McCann, speaking on behalf of the new owners, said they would work with "existing and new occupiers to further enhance the offering at Foyleside".

Mr McCann is associated with investors who bought the Rushmere centre in Craigavon earlier this year.

Foyleside extends to approximately 365,000 sq ft arranged over four levels and comprises 53 units, anchored by Frasers, Marks & Spencer and Dunnes Stores.

The selling agents, Savills, say there are a number of opportunities that exist for the new owners to enhance the centre, including potential development of leisure, residential and office spaces.

Leisure uses include potentially developing a multi-screen cinema on the rooftop of the existing east car park.