Boucher Retail Park sells for £8m

A local developer has paid £8 million sterling for the Boucher Retail Park on an eight-acre site in south Belfast beside the M1 motorway, making it the largest retail investment deal this year. Gavin Morgan, of agents Insignia Richard Ellis Gunne, who acted for the purchasers, pointed out that the Boucher Retail Park is surrounded by highly successful retail warehousing with excellent investment growth potential. The vendor was Town Centre Securities of Leeds, which was represented by Gee & Co of Glasgow. The net initial yield for the property is approximately 7 per cent.