Northern Ireland

Paris firm in £16m Belfast retail property deal

40-46 Donegall Place Image copyright Lisney
Image caption The property on Donegall Place is occupied by retailers Eason and Next

A Paris-based property company has bought a Belfast city centre retail unit for £16.4m.

The deal for 40-46 Donegall Place, which is occupied by Eason and Next, is the first purchase in Northern Ireland by Corum Asset Management.

Commercial agents, Lisney, said it is the largest retail purchase transacted locally so far this year.

Corum Asset Management owns more than 100 properties, including hotels, in a dozen European countries.

Its investment director Philippe Cervesi said: "The purchase is only our second in the UK and we are committed to sourcing and acquiring other opportunities throughout the UK and Europe."

Lisney described the deal as "a quick and smooth transaction", taking just one month to complete.

The Donegall Place building extends to 67,000 sq ft (6,225 sq m) and was sold by another property firm.

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