Fairhill Shopping Centre acquisition completes

An acquisition deal has been completed to bring the Fairhill Shopping Centre under the ownership of Ballymena based property development and investment company Magell Limited.

Purchased for an undisclosed sum in partnership with the Dublin-based Melcorpo Group, Fairhill has returned to local ownership after a period of ownership by German investment group Patrizia AG.

Fairhill Shopping Centre extends to circa 280,000 sq ft with notable tenants including Marks & Spencer, Next, JD Sports, H&M, River Island, Starbucks, Superdry, Toy Town and Burger King.

Speaking about the acquisition, Ryan Walker of Magell Limited said: “Fairhill Shopping Centre is an exciting addition to our portfolio and one which represents fantastic opportunity, both for our company and for the town of Ballymena. We are proud to be bringing the centre back under local ownership and intend to cement a hands on, active management style that best supports the future of the centre and the tenants within it.

Our Real Estate team , led by Director Simon Fleming ,  acted for Magell and its investment partner in the purchase.

Simon commented as follows “We were delighted to play a role in the acquisition of Fairhill Shopping Centre on behalf of the purchaser . This family owned business will undoubtedly go on to maximise the potential of the centre and lead it into a fresh new chapter.”

Belfast based TDK Commercial Property Consultants advised on the acquisition and have been appointed as letting and managing agents. Mark Thallon, Partner in TDK commented “Fairhill Shopping Centre offers a great opportunity and we look forward to working with the new owners to realise the full potential of the centre.”

Simon can be contacted on 028 90 200050