Laganbank Retail Park in Lisburn on the market for £5.8m
Laganbank Retail Park in Lisburn has gone on the market with a guide price of £5.875 million.
Located within walking distance of the city centre, the shopping centre boasts tenants including TK Maxx, Pure Gym, Upstairs Downstairs and Ground Coffee.
Listing agency CBRE said the retail park attracts a gross rent of £503,272 per year.
The 2.4 acre site on Laganbank Road includes a 134 space car park.
The 49,397 sq ft retail park dates back to 1996, but was significantly refurbished in 2017 by owner and Portadown property developer JH Turkington.
CBRE said the retail park averaged 34,239 visitors a month in the past year, higher than pre-pandemic levels of 33,640 a month in 2019.
The property firm said the £5.785m guide price excludes VAT.
The CBRE listing adds: “A purchase at this level would reflect an attractive net initial yield of eight per cent (assuming purchasers costs of 6.62 per cent).”