The Turkington Group purchased the 63,000 sq. ft. of retail accommodation earlier this year and have already invested heavily, with more money to be pumped into the centre in the coming months.
For years, speculation has surrounded the former Burger King unit, which actually comprises of two units.
In 2015, plans were drawn up to bring a leading coffee shop to the units but those proposals failed to materialise.
Recently, Armagh I posed the question of bringing a McDonald’s to the city – would the shopping centre be an ideal city centre location?
Under the new ownership, the Turkington Group have ensured the renewal of the Sainbury’s lease as the anchor tenant.
Gary Turkington from Turkington Group commented: “We see huge potential to breathe new life not only into The Mall, but into the heart of Armagh through the creation of an unparalleled shopping experience in the city.
“With our commitment to substantial investment and innovative enhancements, we look forward to unveiling an exciting array of retail opportunities that will redefine the future of The Mall.”
CBRE Northern Ireland acted as the advisors on behalf of Turkington Group throughout the transaction.
Stephen Smith, Associate Director of Retail at CBRE NI, said: “The Mall has long been established as the dominant retail scheme within Armagh and, since being acquired by Turkington Group, is attracting renewed interest from both local and national retailers and food and beverage outlets.
“The renewal of Sainsbury’s lease as the anchor tenant provides stability and appeal to both shoppers and potential lessee. With significant investment on the horizon, The Mall now presents a really exciting lucrative opportunity for potential tenants.”