Belfast Telegraph

Firms cash in on £35m sale of mall in London

By John Mulgrew

A shopping centre in London once owned by two Northern Ireland property groups has been sold for £35m.

Vicarage Field shopping centre had been owned by Lagmar Barking since 2006.

It's a joint venture between Mar Properties and Lagan Developments (Holdings).

The property was purchased by UK-based private equity real estate fund manager Benson Elliot.

Constructed in 1991, on the site of the former Vicarage Field football grounds in east London, the centre provides 156,000 sq ft of retail space, along with 500 parking spaces.

Peter Cornforth of Benson Elliot said the deal was "an exciting purchase for Benson Elliot and provides us with a fantastic opportunity to contribute to the regeneration of a key east London metropolitan centre".

It comes after Co Fermanagh's Erneside was sold to property investment firms for £34.25m.

Belfast Telegraph