Savills Northern Ireland has announced the sale of two prominent shopping centres in Northern Ireland: Forestside Shopping Centre and Foyleside Shopping Centre. Both centres have remained strongholds of retail in their respective regions, boasting robust footfall, high occupancy levels, and continued growth in recent years.
Forestside Shopping Centre, located in South Belfast, is regarded as Belfast's premier out-of-town shopping centre. The centre extends to approximately 336,532ft² and comprises 35 ground floor retail units, mall kiosks, and free on-site parking for approximately 1,335 vehicles. Notable tenants include Marks & Spencer, Dunnes Stores,Sainsburys,Next, H&M,Boots, and Waterstones.
The shopping centre is 100% let and has consistently attracted high footfall, with more than 5.1 million visitors in 2022. Recent new lettings were secured to Pandora and Cardzone, reflecting the centre's continued growth. The total site measures approximately 14.24 acres, with full planning permission for the development of three restaurants in the car park adjacent to Upper Galwally entrance.
Foyleside Shopping Centre, located in Derry/Londonderry, the regional capital of the North West of Northern Ireland provides the dominant retail offer for the City and extends to approximately 364,637ft² and comprises 53 retail units across four levels, along with on-site parking for approximately 1,520 vehicles. Occupiers of note include Frasers, Dunnes Stores, Marks & Spencer, Boots, Next, and H&M.
The centre sits on approximately 6.99 acres and has maintained high occupancy levels, with over 98% of the scheme let, and footfall exceeding 7.5 million in 2022. New lettings were secured to Toy Town and Rituals, showcasing the centre's ongoing success.
Ben Turtle, Head of Savills Northern Ireland, commented on the sale: “These sales represent a rare opportunity for investors to acquire 100% prime and dominant retail schemes that consistently outperform from an occupational and consumer perspective. We have no doubt they’ll be well received in the market.”
