Business

Lisburn retail park sold to Guernsey property company for £5m

LAGANBANK retail park in Lisburn has been sold to a prominent Guernsey-based property company for a sum exceeding its original asking price of £4.85 million.

The acquisition has been confirmed by DASH Properties, which owned by Guernsey residents Sam and Deborah Hagan.

Mr Hagan is known for his extensive portfolio of leisure and office properties across Northern Ireland and Scotland.

They expressed their enthusiasm about the new acquisition, saying: “DASH is delighted to acquire Laganbank retail park. We firmly believe the retail sector is on the turnaround, and Laganbank has a bright future ahead.

“The strategic location and the strong tenant line-up of Laganbank retail park make it a valuable addition to our expanding portfolio.”

Frontage of the Laganbank retail park in Lisburn, which has been sold
Frontage of the Laganbank retail park in Lisburn, which has been sold Frontage of the Laganbank retail park in Lisburn, which has been sold

Positioned on a 2.4 acre site, it faces the Laganbank Road, a major thoroughfare in the city.

Its current tenants include high-profile brands such as TK Maxx, Pure Gym, Upstairs Downstairs, and Ground Coffee.

The park extends over 49,900 sq ft, offering purpose-built retail warehouse space along with the convenience of 134 free parking spaces.

Darren Best, divisional director at Savills, who represented the purchaser, said: “Retail continues to be an attractive investment asset class in Northern Ireland, and this acquisition by DASH Properties highlights the continued strength and attractiveness of well-located retail parks with a strong tenant line up in the current market.”

TDK Property and CBRE were joint selling agents.

Stephen Deyermond, director at TDK, said: “The smooth sale of this asset proves there is still confidence and liquidity in the market for the right product. We are delighted Laganbank has passed over into safe hands.”