Fully let Lisburn Scheme back on Market

Laganbank retail scheme bank on market at £1,000,000 discount

The Northern Irish commercial market continues to be hit by interest rate rises. Last week seen Laganbank retail Park, a small retail scheme based in Lisburn come back on the market, a year after being advertised with almost £1 million knocked off the asking price.

Laganbank Retail Park has been listed with an £4.85 million asking price.

It comes just 15 months after the same asset was listed on the market for £5.75m.

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.

It includes three retail units and a single coffee/restaurant pod.

The site is anchored by a 22,437 sq ft TK Maxx store and 16,000 sq ft Pure Gym outlet.

It also includes an Upstairs Downstairs unit with a fourth premises leased to Ground Coffee.

Property agents CBRE state the retail park currently attracts a net rent of just over half a million pounds.

All four tenants have leases which run until at least 2032.