Bloomfield Shopping Centre up for sale for £22million

Bangor retail park, believed to be the UK’s first Carbon Neutral Shopping Centre, has gone on the market for a fraction of its selling price seven years ago
By Claire Cartmill
Published 8th Nov 2023, 11:07 BST
Updated 8th Nov 2023, 11:09 BST
County Down’s Bloomfield Shopping Centre and Retail Park in Bangor has gone on the market for £22million. The retail park, which marked its 30th anniversary recently, is on sale through selling agents Savills. Picture credit: SavillsCounty Down’s Bloomfield Shopping Centre and Retail Park in Bangor has gone on the market for £22million. The retail park, which marked its 30th anniversary recently, is on sale through selling agents Savills. Picture credit: Savills
County Down’s Bloomfield Shopping Centre and Retail Park in Bangor has gone on the market for £22million. The retail park, which marked its 30th anniversary recently, is on sale through selling agents Savills. Picture credit: Savills

County Down’s Bloomfield Shopping Centre and Retail Park in Bangor has gone on the market for £22million – a fraction of its selling price seven years ago.

Back in 2016, the centre was sold for £54.5m to London investment firm Ellandi and Tristan Capital Partners. The retail park, which marked its 30th anniversary recently, is for sale through selling agents Savills.

Hide Ad
Hide Ad
Read More
Lunn’s Partners with Tudor to open first monobrand boutique in Northern Ireland

The listing states: “Bloomfield Shopping Centre and Retail Park is the dominant retail scheme in Bangor, providing a total of 425,085 sq ft of retail and ancillary accommodation, located on a 30.85 acre (12.48 hectare) site.

"The shopping centre element of the scheme opened in 1992, was refurbished in 2001, and was extended in 2002 to accommodate the Marks & Spencer and Tesco anchor stores. The centre now extends to 288,234 sq ft and comprises 49 retail units arranged within three malls which radiate from a central square.

"The accommodation is predominantly arranged over ground floor level, however TK Maxx and Next trade over two levels. Both Tesco and Marks & Spencer occupy the property on long leases at a peppercorn rent with expiries in 2115 and 2117 respectively. Other national multiple retailers within the shopping centre include Specsavers, Holland & Barrett, JD Sports, Danske Bank, Vision Express, The Works, Waterstones, Jack & Jones, Costa, Three, Boots, Goldsmiths and River Island to name but a few.

"Two externally accessed units lie adjacent to the western elevation of the shopping centre and are let to TK Maxx and Smyths Toys. The retail park element of the scheme opened in 1994 and comprises a southern terrace and an eastern terrace of four units and two units respectively. National multiple occupiers include Poundstretcher, Sportsdirect, Harry Corry, B&M Bargains and Pets At Home.

Hide Ad
Hide Ad

"Overall, the retail park units combined provide 113,114 sq ft of retail and ancillary floorspace. In addition, seven standalone units fronting Bloomfield Road South, at the western edge of the scheme extending to 23,737 sq ft. These units include a McDonald’s drive-thru restaurant, a Tesco petrol station and car wash, a Tony Macaroni restaurant, Chicago Blue restaurant, Send My Bag unit, Starbucks drive thru and a Tim Hortons drive thru. Tesco, Blue Chicago, Send My Bag and McDonald’s occupy their units on long leases at peppercorn rents.”

According to Savills’ brochure, the centre is the UK’s first Carbon Neutral Shopping Centre and currently has an overall vacancy rate of 2.15%.

Related topics:TescoSavills