Linen Green village in Moygashel sold to investor for £4m
A luxury shopping outlet in Co Tyrone has been sold to an undisclosed private investor for “close to £4m”.
The Linen Green Designer village, in Moygashel close to Dungannon, has been bought by a local man who does not wish to be named. A representative from Savills, the Belfast-based consultancy firm acting on behalf of the new buyer, confirmed the sale of the shopping village.
They said the buyer intends to “let up the remaining space that’s available” on the site and revealed that fashion store DV8 would be moving into one of the empty lots, potentially within the next month.
Several independent retailers have also shown interest in launching businesses within the mall, with a plan to make the Linen Green “a very desirable destination again for shoppers, leisure-dwellers and luncheons”.
“We’d love to facilitate all kinds of businesses — hairdressers, barbers, wedding shops, floral shops — it’s a great opportunity,” Savills added.
The outlet mall, which has been a mainstay of Mid Ulster retail for over 20 years, was put on sale for £4.5m in early 2021 by the Neptune Group. The property investment group had initially purchased the site for £5m in 2015, and has now sold it at a loss, stating in a letter that its decision to sell Linen Green is a “continuation of its strategy” to dispose of its commercial investment portfolio in London.
Linen Green is already home to around 30 businesses, including fashion boutiques, homeware stores and eateries. Built on the site of the famous Moygashel Linen Mills which operated in the 1780s, it is made up of multiple buildings that reference its area’s history, including The Cloth Loft, The Workshop, and The Weaving Sheds.