The centre has 171,590 square feet of retail space in a purpose-built, enclosed mall across a 9.9-acre site with 638 car parking spaces and is considered one of Fermanagh’s main shopping destinations among visitors and locals alike.
The purchaser is Muntermellan Ltd and the shareholders are also the owners at Rushmere Shopping Centre and Retail Park, Craigavon.
The centre had been placed on the market earlier this year with a guide price of over £15 million.
Located on the edge of the River Erne, Erneside is anchored by Marks & Spencer and Next, with a tenant mix including JD Sports, New Look, Superdrug, Lifestyle Sports, Waterstones, Holland & Barrett and Poundland. The scheme currently generates a net operating income of £1,975,831 per annum.
In 2024 it attracted over two million visitors.
Erneside Shopping Centre was sold on behalf of Fixed Charge Receivers Jemma McAndrew and Matthew Nagle of Savills. The transaction reflects a net initial yield of 14.93%.
Ben Turtle, head of Savills Northern Ireland, said: “Erneside Shopping Centre represents a rare opportunity to acquire a dominant, regionally important retail asset. The centre underpins the retail offer in Enniskillen, supported by a strong anchor lineup, a broad convenience and comparison retail mix, and a loyal catchment that extends well beyond the immediate town.
“This transaction reflects continued investor appetite for well-located, income-producing retail assets where there is clear scope for active asset management and income growth.”
Erneside Shopping Centre in Enniskillen
News Catch Up – Tuesday 16 December
The centre was first built in 1989 and later underwent two major phases of expansion and remodelling in 1998 and 2008. The 2008 works included the addition of around 21,500 sq ft of additional retail space, which was added through a two-storey extension. There was also the addition of two further units during developments in 2011 and 2012.
Upon listing, Savills said with a current vacancy rate of just 7%, the property offered a number of asset management opportunities including lease re-gears, letting of vacant units, reconfiguration of space for a new anchor tenant, and enhancing the catering and leisure offer to drive further income.
Enniskillen is the largest town in Co Fermanagh and is popular with both residents and tourists due to its location between Upper and Lower Lough Erne and attractions such as the Marble Arch Caves and Cuilcagh Boardwalk.
The centre benefits from a wide cross-border catchment, excellent road connections and direct pedestrian and boat access.