Lisburn's Laganbank Retail Park in 'safe hands' after being sold to Guernsey property company for £4.85 million

Laganbank Retail Park, which is centrally located in the city, has been bought by DASH Properties, a prominent Guernsey-based property company.

The purchase was made by Guernsey residents Sam and Deborah Hagan, Directors of DASH Properties, who expressed their enthusiasm about the new acquisition.

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

The new buyers cite the strategic location and the strong tenant line-up of Laganbank Retail Park, which means it is a valuable addition to DASH Properties' expanding portfolio.

“DASH is delighted to acquire Laganbank Retail Park,” they said.

“We firmly believe the retail sector is on the turnaround, and Laganbank Retail Park has a bright future ahead.”

Laganbank Retail Park’s 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.

The retail park dates back to 1996, but was significantly refurbished in 2017 by owner and Portadown property developer JH Turkington.

Darren Best, Divisional Director at Savills, who represented the purchaser, commented: “Retail continues to be an attractive investment asset class in Northern Ireland, and this acquisition by DASH Properties Guernsey 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, added: “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”.