Posted on Thursday 15 October 2015 by Ulster Business
A prime retail and office building in Lisburn city centre has been snapped up by a UK investor for an undisclosed sum.
Three-storey Bow House has retail units on the ground floor including Barclays Bank, O2, Card Factory and Iceland and office accommodation for the Department of Finance and Personnel on the upper floors.
The identity of the buyer has not been revealed.
Based on Bow Street in the town, the building is fully let and its sale is a sign of continued interest in Lisburn and Northern Ireland from investors from outside these shores, according to Andrew Coggins from joint selling agent CBRE.
“We believe this healthy demand from new investors seeking opportunities in NI will continue to strengthen going into 2016,” he said. We have seen over £250 million of investment transactions in Northern Ireland to date and forecast a further £250 million of deals to close by the end of the year.”
Ross Sweeney from O’Connor Kennedy Turtle said the building will provide a good return for the investor.
“Lisburn has always been an excellent centre for retail, preventing leakage to other nearby competition. Bow Street has excellent and complementary tenants in Tesco, Boots, Café Nero, B&M Bargains and Superdrug, whilst Lisburn Square has recently been bought and is currently undergoing an enhancement programme.”