Rushmere Shopping Centre and retail park in Craigavon has gone on sale for a huge £57 million.
The complex is one of the largest in Northern Ireland. It extends to approximately 350,666 sq. ft and comprises over 50 ground floor retail units in addition to mall kiosks.
Occupiers of note include Primark, Boots, Home Bargains, H&M, Superdrug, River Island, TK Maxx, Dunnes and JD Sports.
The Retail Park is located immediately adjacent to the shopping centre and measures approximately 134,365 sq ft. Occupiers of note include Homebase, Matalan, Next, Poundland and Currys PC World.
Commercial real estate agencies CBRE NI and Savills are acting as joint agents on the sale of the property.
The recently vacated petrol station “development potential” and according to the marketing material, footfall for the entire scheme has remained at robust levels in recent years with average footfall of 5.6 million between 2019 and 2021.
The original centre was constructed in 1976 and was extended in 1998 and again in 2004.
The recently vacated Sainsburys unit benefits from having its own dedicated surface level service yard while all other shopping centre units have basement level service access.
Andrew Coggins, Senior Director at CBRE NI, said: “Rushmere Shopping Centre and Retail Park is a very exciting asset to bring to the market in Northern Ireland, and is currently the largest investment asset to come to the market in Northern Ireland to date this year.”
Ben Turtle, director at Savills, added: “The scheme is fully let to a number of well-known and prominent tenants, so we anticipate that there will be strong investor interest in this investment opportunity.”