A MANCHESTER-based property group has acquired its second retail park in Derry in less than 18 months.
David Samuel Properties has paid £9.7 million for the 62,000 sq ft Lisnagelvin Retail Park, which houses Next, Matalan and TK Maxx.
It comes six years after London-based M&G Real Estate paid the Ballymena-based Corbo group £16.7m for the retail park.
David Samuel Properties paid over £30m for Crescent Link Retail Park in October 2019.
The group also completed the £18.9m acquisition of Holywood Exchange Retail Park outside Belfast in December.
It's understood the company acts on behalf of a range of UK and Israeli-based high net worth individuals investing in European property.
The finance for the latest acquisition was provided by QSix, a London-based real estate finance company which primarily invests in German property.
Andrew Berkeley, managing director at David Samuel Properties, said it marked the group’s first deal with QSix.
“We are excited about working with the Qsix team on these assets going forward and will continue to look for opportunities to expand our portfolio in the Retail Park sector.”
