Northern Ireland

Antrim shopping centre Castle Mall purchased

Money

A shopping centre in Antrim town has been sold as part of a UK property deal.

Castle Mall was part of a shopping centre portfolio, including stores in Newmarket and Worksop, which went into administration earlier this year.

The Antrim shopping centre has now been bought by property company Edinburgh House, its first shopping centre purchase in six years.

Tenants in the Castle Mall include Dunnes Stores and New Look.

Edinburgh House was founded by UK retail investors who sold the majority of their holdings in 2005 and 2006.

A spokesperson for Edinburgh House said the centre is not fully let and added that it will be working with letting agents BTW Shiells to increase occupation.

The firm's managing director Tony Quayle said it was returning to the market because property values were returning to more realistic values.

He added: "With our asset management capabilities, we are confident of turning around under-performing assets and are actively pursuing other opportunities."

Edinburgh House's website says it has converted £1m of equity in 2001 to more than £140m in 2008.

Related Internet links

The BBC is not responsible for the content of external Internet sites