Forestide and Foyleside sale ‘rare opportunity for investors’

Announcing that Forestside and Foyleside have gone on the market, Savills Northern Ireland said both centres have remained strongholds of retail in their respective regions, boasting robust footfall, high occupancy levels, and continued growth in recent years.

Ben Turtle, head of Savills NI, commented: “These sales represent a rare opportunity for investors to acquire 100% prime and dominant retail schemes that consistently out perform from an occupational and consumer perspective. We have no doubt they’ll be well received in the market.”

Forestside Shopping Centre in south Belfast extends to approximately 336,532 sq ft and comprises 35 ground floor retail units, mall kiosks and free on-site parking for approximately 1,335 vehicles. Notable tenants include Marks & Spencer, Dunnes Stores, Sainsburys, Next, H&M, Boots, and Waterstones.

The centre, Savills stated, is 100% let and has consistently attracted high footfall with more than 5.1 million visitors in 2022.

The commercial property firm added: “Recent new lettings were secured to Pandora and Cardzone, reflecting the centre's continued growth. The total site measures approximately 14.24 acres with full planning permission for the development of three restaurants in the car park adjacent to Upper Galwally entrance.”

Foyleside Shopping Centre in Derry/Londonderry extends to approximately 364,637 sq ft and comprises 53 retail units across four levels along with on-site parking for approximately 1,520 vehicles. Occupiers of note include Frasers, Dunnes Stores, Marks & Spencer, Boots, Next, and H&M.

“The centre sits on approximately 6.99 acres and has maintained high occupancy levels, with over 98% of the scheme let, and footfall exceeding 7.5 million in 2022.

“New lettings were secured to Toy Town and Rituals, showcasing the centre's ongoing success.”