NI-owned Magell Limited officially acquires ownership of Ballymena shopping centre in partnership with Melcorpo Group
An acquisition deal has been completed to bring the Fairhill Shopping Centre under the ownership of Ballymena based property development and investment company Magell Limited.
Purchased for an undisclosed sum in partnership with the Dublin-based Melcorpo Group, Fairhill has returned to local ownership after a period of ownership by German investment group Patrizia AG.
Fairhill Shopping Centre extends to circa 280,000 sq. ft. with notable tenants including Marks & Spencer, Next, JD Sports, H&M, River Island, Starbucks, Superdry, ToyTown and Burger King.
Speaking about the acquisition, Ryan Walker of Magell Limited said: “Fairhill Shopping Centre is an exciting addition to our portfolio and one which represents fantastic opportunity, both for our company and for the town of Ballymena. We are proud to be bringing the centre back under local ownership and intend to cement a hands on, active management style that best supports the future of the centre and the tenants within it.”
Leading Belfast law firm Millar McCall Wylie acted for Magell Limited and its investment partner in the purchase: “We were delighted to play a role in the acquisition of Fairhill Shopping Centre on behalf of the purchaser,” comments Simon Fleming, Director, Millar McCall Wylie.
“This family-owned business will undoubtedly go on to maximise the potential of the centre and lead it into a fresh new chapter,” Simon Fleming said.
TDK Commercial Property Consultants advised on the acquisition and have been appointed as letting and managing agents. Mark Thallon, Partner in TDK commented “Fairhill Shopping Centre offers a great opportunity and we look forward to working with the new owners to realise the full potential of the centre.”