Fairhill owners take control of Braidwater retail park

Braidwater phase two is a 93,000 sq ft development which has tenants including The Range, Harry Corry and Smyths Toys

The owners of the Fairhill Shopping Centre in Ballymena, County Antrim, have taken control of another retail development in the town.

Magmel (Ballymena) have bought phase two of the Braidwater retail park, having purchased phase one last year.

The development was sold by LaSalle Investment Management; the financial terms have not been disclosed.

Magmel is a joint venture between the Ballymena-based Walker family and Dublin businessman Nick Furlong.

Earlier this month, they also bought part of the Riverside retail park in Coleraine for £10.25m.

• Belfast shopping centre deal set to create 150 jobs

• Part of Coleraine retail park sold to property firm

Braidwater phase two is a 93,000 sq ft (8639.9 sq m) development which has tenants including The Range, Harry Corry and Smyths Toys.

Ryan Walker, a Director at Magmel said:"The park aligns with our other assets in the sector and we look forward to building on its exceptional performance in the years ahead."

This is the latest retail deal in Northern Ireland which has seen local investors buy from UK or US property firms.

In September, the Belfast couple Michael and Lesley Herbert bought the Forestside shopping centre in south Belfast from Kildare Partners, while the same firm also sold the Foyleside centre to a consortium of local business people.