Rockspring has acquired Fairhill Shopping Centre in Ballymena, Northern Ireland, for £45.6m.
Acquired on behalf of the UK Value 2 fund, the initial yield is 8.6%. The asset covers 295,000 sq ft and comprises 49 retail units, a food court and parking for 900 cars.
It is 95% let to range of retailers including M&S, Next, New Look, Topshop, H&M and River Island.
This is the 14th acquisition for the Value 2 fund and takes the portfolio value to more than £390m.
Cordalue Real Estate will act as joint venture partner and asset manager on the scheme.
