Londonderry shopping centre changes hands for £27m

Foyleside Shopping Centre in Londonderry has been purchased by a group of local investors for £27m.

The scheme was sold by London-based investment firm Kildare Partners, which recently offloaded the Forestside Shopping Centre in Belfast for a reported £42m.

The four-storey shopping centre extends to around 365,000 sq ft and is home to 53 units, with tenants including Frasers, Marks & Spencer, and Dunnes Stores.

The new owners, said they would work with existing and new occupiers to further enhance the scheme’s offering.

Savills, which handled the sale, said the shopping centre presents a number of opportunities for the new owners, such as the potential development of leisure, residential and office spaces.

There is also the possibility to create a multi-screen cinema on the roof of one of the centre’s car parks.