Patrizia seeks buyer for Irish shopping centre

German property group Patrizia has mandated Savills to sell the Fairhill shopping centre in Ballymena, Northern Ireland, with a £10 mln (€11.5 mln) price tag.

The 280,000 sq ft (26,012 m2) retail complex was acquired in 2015 for £45.6 mln by London-based Rockspring Property Investment Managers (now part of Patrizia).

The sale of the 8.8 acre site includes a 673-space multi-story car park, and a 5,748 sq ft office building.

Ten units are currently vacant. Also, the Debenhams, Topshop, Quiz, Oasis and Burton/Dorothy Perkins units are in administration and due to close.

Marks & Spencer remains the anchor tenant with a 64,000 sq ft store. Next, River Island, H&M, JD Sports and Sports Direct are among the other key tenants.

The sale was first reported by the Irish News website.


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