Fri, 12 Oct 2018 | BUSINESS SALE
Bow Street Mall in Lisburn, one of Northern Ireland's best-known shopping centres, is up for sale with an asking price of £18 million.
Property agents McKibbins and Savills have been appointed to handle the sale and have described the supermarket as “the dominant retail offer” in the city. It is said that the initial net yield that the purchaser can expect is 10.77 per cent.
Michael Hopkins, a partner in McKibbin Commercial, said: "McKibbin Commercial and Savills are delighted to be instructed to sell this substantial city centre shopping centre and expect strong demand from local and national buyers who seek to improve and revitalise this prime city centre asset."
The centre is home to a number of popular retailers including Primark, Dunnes Stores, Poundworld and Menarys.
The population of the catchment surrounding Bow Street Mall is 672,600 people, with an annual footfall of 3.2 million. The financial status of the catchment population is described as "comfortable", though "skewing towards some of the most prosperous household groups in the UK".
Other tenants of the shopping centre also include JD Sports, New Look, Ann Summers and Costa Coffee.
First built in 1988, the shopping centre spans 341,137 sq ft centre and consists of 55 retail units, five anchor units and a food court. The centre also features a multi-storey car park with 1,010 spaces.
Since the sale of CastleCourt last year, Bow Street Mall is the first major shopping centre to hit the market.
The centre had previously featured as part of the property portfolio of KFC franchise holder Michael Herbert.
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