MANCHESTER-based investment firm DS Properties is closing in on its fifth Northern Ireland retail park, The Irish News understands.
The company, which recently bought Shane Retail Park on Belfast’s Boucher Road for £23 million, is believed to have agreed to buy Cityside Retail Park for above the £13m asking price.
Both Belfast retail parks were put on the market this year by Marathon Asset Management (MAM), the New York-based investment manager, which bought the shopping centres in 2014.
While a competitive bidding process is thought to have pushed the sale price for Cityside above the £13m listing price, it’s well short of the £24.3m paid by Marathon in 2014.
Subject to the deal being finalised, Cityside will be the fifth shopping centre acquired by David Samuel Properties in the north since October 2019, taking its spend on retail assets here close to £100m in 24 months.
It’s understood the Manchester-based firm acts on behalf of a number of UK and Israeli-based investors.
It also owns the Crescent Link and Lisnagelvin retail parks in Derry and the Holywood Exchange Retail Park outside Belfast.
The investment firm confirmed to The Irish News earlier this month that it was actively seeking additional investment opportunities in Northern Ireland.
Meanwhile it’s understood that the listed former bank building in Belfast city centre, recently vacated by Tesco, was bought by Belfast City Council for well below the £4.25m asking price.
