06 Jul 2022

New owners for Derry shopping centre

Derry-based investment and development company has acquired the city's Richmond Shopping Centre

New owners for Derry shopping centre

Richmond Shopping Centre, acquired by the Derry-based Martin Development group.

A Derry-based investment and development company has acquired the city's Richmond Shopping Centre.

The Centre, situated in the heart of the city centre, comprises 40-plus retail units in over 150,000 square feet of space, has been purchased by the Martin Property Development Group.

Key occupiers of the Centre include JD Sports, New Look, Nando’s, Caffe Nero, Trespass, Lifestyle Sports and Bon Marche. 

The Derry News reported in June that the Centre had gone into receivership.

Martin Development Group director, Paul Martin, said they were 'delighted' to have acquired the Centre.

He added: “With the help of our fantastic legal team Gareth Planck  and  Corrina Cassidy  at Eversheds Sutherland we ex- changed unconditionally in five days and completed two days thereafter.

“We have spent around £100 million this year on new acquisitions and have further appetite in 2022 to add to our growing portfolio.”

Acquisitions by the Martin Group this year have included Garden Square Shopping Centre, Letchworth Garden City, Hertfordshire which comprises 170,000 square feet of retail and a 400 space multi-storey car park on 5.8 acres right by the train station. Fishergate Shopping Centre, Preston which comprised 350,000 square feet of retail space and an 800-space surface level car park on 10.5 acres at Preston Train Station.

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