Northern Ireland retail park changes hands for £5.4m
A retail park in Newtonabbey, Northern Ireland, has been sold by a UK institutional investor to a local private investor for £5.4m.
Shore Road Retail Park is located four miles north of Belfast and comprises three units let to PureGym, Dunelm, and Dulux.
The scheme forms part of a wider retail hub in Newtownabbey, with over 1 million sq ft of retail floorspace in the surrounding area, with nearby assets including Abbey Retail Park, Valley Retail Park, and the Abbey Shopping Centre.
CBRE NI, which acted for the vendor, said the deal underscores continued investor appetite for high-quality retail warehouse assets with strong tenant covenants and excellent connectivity.
Gavin Elliott, senior director at CBRE NI, said: “We are pleased to have completed this high-profile sale on behalf of our client. Shore Road Retail Park is a prime example of a well-positioned, modern retail scheme anchored by strong covenants and delivering secure, long-term income.
“While the investment market has been somewhat challenging in recent times, the strong performance of the retail warehouse sector in 2024 has carried into 2025.
“This transaction highlights the continued appetite for quality retail warehouse investments in strategic, accessible locations across Northern Ireland, and demonstrates the resilience and attractiveness of this asset class in the current market.”
Paul Wilson, director of retail at Savills, which acted for the purchaser, added: “We were pleased to have supported the purchaser in securing this strategically located asset. With a high-calibre tenant line-up and consistent footfall, the property presents a compelling opportunity for sustained rental growth and long-term value.
“Its position within a busy and accessible retail hub only strengthens its appeal as a resilient investment.”