The owners of Forestside Shopping Centre in south Belfast have completed the acquisition of the Abbey Centre in Newtownabbey for just under £59 million, marking another major investment in Northern Ireland’s retail property sector.
The purchase was made by the Herbert Group, a company owned by Belfast-based couple Michael and Lesley Herbert.
This latest acquisition strengthens the group’s growing retail portfolio following last year’s £22 million purchase of the Bloomfield Shopping Centre and Retail Park in Bangor.
The Abbey Centre was previously owned by London-based investment trust New River Retail. Under its stewardship, the centre was developed into one of Northern Ireland’s leading retail destinations, attracting significant footfall and a stable tenant base.
The deal reflects a growing confidence in the UK shopping centre market, with investor interest showing signs of recovery after years of turbulence in the retail sector.
Michael and Lesley Herbert are well-known figures in Northern Ireland’s business landscape. Over four decades, they built the UK’s largest KFC franchise operation before selling the business in 2020.
Since then, they have channelled their investments into commercial property, expanding their presence in the retail and leisure sectors across the region.
The acquisition of the Abbey Centre underlines the couple’s continued commitment to revitalising key retail locations in Northern Ireland, positioning their property group as a major player in the sector.
