Marks & Spencer has pulled the sale of its Sprucefield retail park in Lisburn, outside Belfast, after shortlisting a preferred party.
The retailer put the 220,000 sq ft Northern Ireland retail park up for sale at £105m through Cushman & Wakefield in February, but an ongoing review of its portfolio by new property director Clem Constantine has left the sale hanging.
The retailer cancelled the sale after pulling out of Multi Development’s 700,000 sq ft Victoria Square in Belfast and deciding against moving from its scheme to Westfield’s adjacent 500,000 sq ft Sprucefield development.
A source said: “There is still a conversation with one party, but at the moment there is no instruction to sell.”
References: EGi News 10/04/06
