Investor snaps up Ballymena retail park

The second phase of a retail park in Ballymena, Northern Ireland has been acquired by local investor for an undisclosed sum.

The 93,000 sq ft Braidwater Retail Park – which is home to tenants including The Range, Harry Corry, and Smyths Toys – has been purchased by Magmel.

Andrew Coggins, senior director at CBRE NI, which acted for the vendor, said: “The sale of Braidwater Retail Park is just the latest in what has been a strong year for investment sales volumes in Northern Ireland.

“Retail in general and in particular retail warehouse parks have been greatly resilient over recent years with strong tenant demand and resulting low vacancy rates presenting attractive prospects to investors.

“This transaction illustrates that, while the wider market is challenging, there is still significant levels of strong buyer interest where quality assets are concerned.”

Ryan Walker, director of Magmel, added: “Following our purchase of Phase 1 Braidwater Retail Park in 2022, we are delighted to acquire Phase 2 as we continue to expand our growing portfolio.

“With its enviable location and strong anchor tenants, the park aligns with our other assets in the sector and we look forward to building on its exceptional performance in the years ahead.”