Belfast Telegraph

Tesco superstore sold in £30m deal

A Newry retail development has been sold for £30 million in what is claimed to be one of the largest property deals in Northern Ireland this year.

The Tesco Extra superstore, which employs 300 staff on the Downshire Road, was sold by Portadown-based owner Turkington Holdings to Scottish Widows Investment Partnership.

The initial asking price was £27.3 million.

Tesco opened the store in June.

The sale was completed by commercial property agency CBRE. Managing director Brian Lavery said the deal was a landmark sale.

He said: "This is certainly the largest investment property transaction in Northern Ireland this year and one of the largest that we have seen for a number of years."

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?


From Belfast Telegraph