Belfast Telegraph

Lisburn Square could offer prime retail location, say owners

By Staff Reporter

Lisburn Square could become a prime destination for businesses, retailers and restaurateurs under its new owners, it's been claimed.

Marcol, the English company which bought the Square after it was sold by administrators of Valto Ltd, with an asking price of £2.25m, have visited Lisburn to promote the location.

It's been given a revamp including building maintenance, improved lighting and paving.

Nicky McCollum, development director of Lisburn Square, said the square was "one of the least expensive retail spaces available across Northern Ireland".

"We have offered very attractive lease terms which, along with the 65% to 70% reduction in rates, presents an extremely viable location for businesses."

She said its investment was more than a "one-off" but would entail continuing support so that the site would become a sought-after location.

There are currently 29 retail units in Lisburn Square with a 50% vacancy rate, plus two storeys of office and residential space.

Meanwhile, Lisburn and Castlereagh City Council has carried out a number of improvements to the city centre in a £5m investment.

Market Square has been given a new events space, including lighting columns, an interactive LED light floor and water features.

The improvements and upgrades were carried out with the support of the Department for Social Development (DSD), which contributed £3m to the revamp. Allan Ewart, chairman of the council's development department, said: "The development of Lisburn City Centre's public realm forms part of our long term vision.

"We will be addressing the challenges, responding to the new developments in the area, meeting the requirements of businesses, visitors and residents and ensuring that Lisburn city can achieve its true potential as one of Northern Ireland's most vibrant, commercially successful cities."

Belfast Telegraph