Damolly Retail Park, the largest retail scheme in Newry, has been sold by London Metric for a sum in excess of £30 million to Co Down based company MJM Prime Investments Ltd.  The sale which was handled by Tughans’ Real Estate and Corporate teams is one of the biggest deals of the year.

Located on the Armagh Road, Damolly comprises 165,034sq ft of prime retail warehouse space anchored by B&Q and the recently built Lidl.  The site covers 15.5 acres and offers parking for 688 cars.

Phyllis Agnew, Senior Partner and Head of Real Estate commented, “The completion of this sale represents a significant boost of confidence in Newry’s retail sector.  Damolly has traded successfully since 1999 and has a robust letting history.  Currently 100% occupied the retail park has a healthy mix of well-known brands with very strong leasing projections.”