One of Northern Ireland’s largest commercial property deals completes

By Neil Logan

The CastleCourt shopping centre in Belfast has been sold for £125million to investment firm Wirefox, making it one of the biggest commercial property deals in Northern Ireland for some time.

The Belfast city centre property consists of 365,000 square feet, and was previously owned by Hermes Investment Management based in London. The commercial property was opened in 1990 and was at one stage valued at £350million. The centre generates approximately £10million in rent each year from its retail tenants, and the sale has been hailed as one of the largest commercial property transactions in recent years in Northern Ireland.

Wirefox, the new owners, is an investment firm based in Holywood, County Down, and it has already announced that it is planning “significant capital expenditure in the complex”.

If you require legal advice from a solicitor specialising in commercial property in Northern Ireland contact Wilson Nesbitt in Belfast by clicking here.