Belfast Telegraph

Northern Ireland KFC boss Michael Herbert's property among £137m deals

By John Mulgrew

The sale of three of KFC tycoon Michael Herbert's properties along with Belfast's CastleCourt shopping centre have made up £137m of major commercial sales in the last quarter.

Mr Herbert's Lesley Tower was sold for £8.6m, while his Lesley Exchange buildings were sold for £2.3m and £3m each, according to the latest commercial property report from CBRE, for the last quarter.

During the quarter, BJ Eastwood's firm Wirefox completed a £123m deal to buy CastleCourt shopping centre in Belfast city centre.

The CBRE report says "that the current political situation has already had a negative impact on the local economy and property market and will continue to do so should the Stormont stalemate persist".

It said that 11 separate deals have been completed this year, and the total value of sales is expected to surpass £300m by the end of 2017.

Gavin Elliott, director at CBRE, said: "It is great that the local property market has remained robust during a time of political uncertainty, and it is encouraging to see a large number of transactions from the second quarter complete."

The report also said that the retail market "is performing well".

It says that it is "anticipated that the lead up to Christmas will see increasing euro spend".

Some of the retailers setting up shop in the last three months include the Range, moving into Connswater in east Belfast, Intersport, launching at Rushmere in Craigavon, while Superdry has opened at Ballymena's Fairhill.

Belfast Telegraph