KFC boss’ prop­erty among £137m deals

Belfast Telegraph - - BUSINESS - BY JOHN MULGREW

THE sale of three of KFC ty­coon Michael Her­bert’s prop­er­ties along with Belfast’s CastleCourt shop­ping cen­tre have made up £137m of ma­jor com­mer­cial sales in the last quar­ter.

Mr Her­bert’s Les­ley Tower was sold for £8.6m, while his Les­ley Ex­change build­ings were sold for £2.3m and £3m each, ac­cord­ing to the lat­est com­mer­cial prop­erty re­port from CBRE, for the last quar­ter.

Dur­ing the quar­ter, BJ East­wood’s firm Wire­fox com­pleted a £123m deal to buy CastleCourt shop­ping cen­tre in Belfast city cen­tre.

The CBRE re­port says “that the cur­rent po­lit­i­cal sit­u­a­tion has al­ready had a neg­a­tive im­pact on the lo­cal econ­omy and prop­erty mar­ket and will con­tinue to do so should the Stor­mont stale­mate per­sist”.

It said that 11 sep­a­rate deals have been com­pleted this year, and the to­tal value of sales is ex­pected to sur­pass £300m by the end of 2017.

Gavin El­liott, di­rec­tor at CBRE, said: “It is great that the lo­cal prop­erty mar­ket has re­mained ro­bust dur­ing a time of po­lit­i­cal un­cer­tainty, and it is en­cour­ag­ing to see a large num­ber of trans­ac­tions from the sec­ond quar­ter com­plete.”

The re­port also said that the

‘Ro­bust mar­ket’: Gavin El­liott

re­tail mar­ket “is per­form­ing well”.

It says that it is “an­tic­i­pated that the lead up to Christ­mas will see in­creas­ing euro spend”.

Some of the re­tail­ers set­ting up shop in the last three months in­clude the Range, mov­ing into Connswa­ter in east Belfast, In­ter­sport, launch­ing at Rush­mere in Craigavon, while Su­perdry has opened at Bal­ly­mena’s Fairhill.

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