Londonderry: Lisnagelvin Retail Park bought for £10m

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The retail park houses Next, Matalan and TK Maxx

A UK property firm has bought the Lisnagelvin Retail Park in Londonderry in a deal worth almost £10m.

David Samuel Property Management has paid £9.7m for the 62,000 sq-ft (5,760 sq-m) park, which is home to Next, Matalan and TK Maxx.

It is the company's latest purchase in Northern Ireland and the second major acquisition in the city in less than 18 months.

In 2019, the firm paid a reported £30m for the Crescent Link Retail Park.

Last year, the company bought Holywood Exchange Retail Park on the outskirts of Belfast for £18.9m.

Managing director of David Samuel Properties, Andrew Berkeley said the property firm is "delighted to have successfully concluded a further addition to our retail park portfolio".