In a significant deal for the Northern Ireland retail investment market, commercial property agent CBRE NI has announced the sale of the Shore Road Retail Park in Newtownabbey for £5.4m.
Acting on behalf of a UK institutional investor, CBRE NI negotiated the transaction with a local private investor advised by Savills. The deal is said to underscore continued investor appetite for high-quality retail warehouse assets with strong tenant covenants and excellent connectivity.
The retail park, located four miles north of Belfast and adjacent to Junction 2 of the M2 motorway, comprises three fully let units occupied by tenants including Pure Gym, Dunelm and Dulux.
Commenting on the transaction, Gavin Elliott, senior director at CBRE NI, said: “We are pleased to have completed this high-profile sale on behalf of our client. Shore Road Retail Park is a prime example of a well-positioned, modern retail scheme anchored by strong covenants and delivering secure, long-term income.
“While the investment market has been somewhat challenging in recent times, the strong performance of the retail warehouse sector in 2024 has carried into 2025.
“This transaction highlights the continued appetite for quality retail warehouse investments in strategic, accessible locations across Northern Ireland, and demonstrates the resilience and attractiveness of this asset class in the current market.”
Paul Wilson, director, retail at Savills, added: “We were pleased to have supported the purchaser in securing this strategically located asset. With a high-calibre tenant line-up and consistent footfall, the property presents a compelling opportunity for sustained rental growth and long-term value.
“Its position within a busy and accessible retail hub only strengthens its appeal as a resilient investment.”
Shore Road Retail Park forms part of a wider retail hub in Newtownabbey, with over one million square feet of retail floorspace in the surrounding area, including Abbey Retail Park, Valley Retail Park, and Abbey Shopping Centre.
