LAMBERT Smith Hampton has been appointed as the management and leasing agent on Sprucefield retail park following NewRiver’s £40 million acquisition of the scheme from Intu Properties.
The 47-acre site comprises a five-unit retail park providing 231,000 sq ft of retail space, a 1,200-space free car park and 18 acres of development land.
Keith Shiells, director of Lambert Smith Hampton, who acted on behalf of NewRiver during the transaction , said: “This is a popular shopping destination with two strong anchor retailers which attract a high level of footfall.
“It benefits from an excellent location, close to the main arterial motorway for Northern Ireland, and a competitive rent which makes it an ideal scheme for large scale retailers keen to expand their current footprint here
“There are already a number of interested parties and we expect to be able to add to the offering with exciting new additions in the near future.”
Charles Spooner, director of NewRiver, added: “We're delighted to have acquired Sprucefield retail park, recognising it as one of the leading retail destinations in the region.
“This marks our second acquisition in Northern Ireland as we also own the Abbey shopping centre in Newtownabbey, where we have invested nearly £10m to further improve it since acquiring in 2014.
“As well as further enhancing the strong line up of retailers on Sprucefield, we are working up development plans for the 18 acres of land which may include a combination of retail, leisure and potential for a drive-thru.”
