Tristan Capital Partners' Episo 4 opportunity fund has agreed to buy two retail parks in Northern Ireland for a total investment of more than €55 mln.
The sites, Junction One in Antrim and The Outlet in Banbridge, have 55,500 m2 of retail and leisure space and cover a total land area of 38 hectares. Junction One is fully let to tenants including Lidl, Homebase and BM Bargains, while The Outlet's units are occupied by 50 leadin brands including M&S, LK Bennett and Gap.
Tristan said it planned to refurbish and enhance both sites, including the installation of an eight-screen cinema at The Outlet.
The fund recently invested €70 mln in Northern Ireland with the purchase of the 38,750 m2 Bloomfield Centre in Bangor.
Managing Director Peter Mather said: 'This deal represents a unique opportunity to bring together two outlet centres currently under separate ownership for the first time.
'Combined, these centres account for the vast majority of the Outlet Market in Northern Ireland, with both sites already housing a broad range of national and international occupiers, including strong anchor tenants.'
Local partner The Lotus Group will be providing support with asset and project management, while Rioja Development Ltd will provide specialist outlet consultancy. A&L Goodbody acted as legal adviser on the deal.
