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Bangor's Bloomfield Shopping Centre sold in multi-million pound deal

By John Mulgrew

Published 03/11/2015

Bloomfield Shopping Centre has been sold for close to its £54m asking price
Bloomfield Shopping Centre has been sold for close to its £54m asking price

Co Down retail park Bloomfield Shopping Centre - formerly owned by one of Northern Ireland's richest men - has been sold.

The centre in Bangor went on the market earlier this year. But it's understood it is now 'sale agreed' to London-based Ellandi and real-estate asset management firm Tristan Capital Partners.

The development is the latest major retail property to be sold here after Fairhill in Ballymena went for more than £45m.

Ellandi and Tristan Capital Partners also snapped up Enniskillen's Erneside Shopping Centre earlier this year.

It's understood Bloomfield went for close to its £54m asking price, according to the latest commercial property report from CBRE.

Bloomfield Centre, which is anchored by M&S and Tesco, has rental income of £4.66m, and a new Next store is due to open there in April 2016.

Ulster Bank appointed a fixed charge receiver to Bloomfield last year, which has led to receivers putting it on the market. The shopping mall had been part of the portfolio of Donegall Place Investments Ltd, led by KFC tycoon Michael Herbert.

Bloomfield is the main centre in Bangor and its robust retail line-up of River Island, Boots and H&M - as well as anchors M&S and Tesco - is a major pull to shoppers.

Agency Colliers was appointed by Ulster Bank to manage the centre at the beginning of last year.

Meanwhile, two of Northern Ireland's biggest retail parks - Junction One and The Outlet - remain on the market with an overall guide price of around £60m. The shopping park giants are up for grabs after being put on the market by London-based property firm DTZ.

Belfast Telegraph

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