A prominent retail park that provides circa 75 per cent of the total retail warehouse floor space in Newry has been placed on the market.
Damolly Retail Park has an asking price of £33.5 million. It is the only out-of-town retail park in the city and serves shoppers from both sides of the border.
Developed in 1999, the park provides over 165,000 sq. ft of modern purpose-built retail accommodation.
The park is 100 per cent occupied with a very strong letting history. Current tenants include B&Q, Lidl, McDonalds, Smyths Toys, Curry’s PC World, Halfords, Next Home, Mothercare, Harveys, Costa and Home Bargains.
This is the latest retail park to go on the market after it was revealed that Junction One, Antrim and The Outlet, Banbridge and Bloomfield Shopping Centre in Bangor all being released to the market.
It was recently been announced that Lisnagelvin Retail Park, Londonderry and Showgrounds Retail Park, Omagh were both sold to UK institutional investors for a combined price of £43.4 million by agents CBRE earlier this year, demonstrating the strength of the retail investment market.