EXCLUSIVE
BALLYMENA'S Fairhill shopping centre has been sold to US-based investment company Rockspring in a deal believed to be worth more than £50 million.
Fairhill, which has been operating since 1991, was regarded as the flagship of property developer Sam Morrison's empire.
He shuns the limelight, but has been an influential player in the north's property scene for decades.
The Fairhill mall had been on the market for some weeks with a price tag of £52.5m, but the exact figure paid hasn't been revealed.
But it has proven a good investment for Morrison's company Corbo Properties, which originally bought it for £15 million.
During Corbo’s long tenure, retail space at Fairhill has tripled to 350 000 square feet.
The centre has been anchored by Marks & Spencer since it first opened, and it has managed to attract a number of other major UK multiples, including Debenhams, bolstering Ballymena's retail pulling power.
Corbo also recently sold two properties in the north west - Lisnagelvin retail park in Derry and the Showgrounds retail park in Omagh.
The sell-offs began in 2010 when Corbo’s prime site at Belfast’s Donegall Place was sold to CBRE Investors for £8.75m.
