Starbucks perks up Ballymena

Published:  12 April, 2017

Rockspring brings Starbucks to Fairhill shopping centre

Rockspring Property Investment Managers on behalf of its UK Value 2 fund has agreed a stream of twelve lettings and lease renewals at Fairhill shopping centre, Ballymena, Northern Ireland. Rockspring acquired the shopping centre, which is asset managed by its joint venture partner Cordatus Real Estate, in September 2015. The total rent secured across all of the completed deals is in excess of £300,000 pa.

Starbucks is the most recent tenant to commit to the scheme, having signed a 15-year lease on a 2,024-sq ft unit. In October 2016, Greggs signed a 10-year lease on a 2,763-sq ft unit, marking its seventh outlet in Northern Ireland. Chopstix, the UK’s fastest growing Asian food chain, and The Works, a stationery and arts-and-crafts retailer, have also newly opened at Fairhill on 10-year leases.

Long term lease extensions have been agreed with H&M, which has extended until 2031, and Hire Class, which operates Remus Uomo and Tommy Hilfiger outlets, which has agreed ten year extensions on its two units. Boots, Oasis, and the Card Factory have also further committed for five year terms.

Assistant director Kim Sardar said: “The high profile new brands secured and the lease extensions that we have achieved in just 18 months of ownership are testament to the strength of the town of Ballymena, and the success of our proactive asset management strategy at Fairhill.”

DTZ McCombe Pierce is the leasing agent for Fairhill.

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