DWF, the global provider of integrated legal and business services, has advised The Herbert Group on its acquisition of the AbbeyCentre, one of Northern Ireland’s best-known retail destinations, from NewRiver.
Located in Newtownabbey, just six miles from Belfast city centre, the AbbeyCentre is a 319,673 sq ft indoor shopping complex, boasting over 70 retail units, including Primark, Next and Dunnes Stores. With over 1,100 free parking spaces and an annual footfall of approximately 4.9 million, Abbey Centre serves as a vital retail hub for the Greater Belfast area.
The acquisition represents another major strategic investment by The Herbert Group. Previous landmark deals include the acquisitions of Lesley Forestside shopping centre in south Belfast and Lesley Bloomfield shopping centre in Bangor – both of which have continued to thrive as key retail destinations within their local communities.
A multi-disciplinary team from DWF advised Herbert Group on all aspects of the acquisition and financing. The real estate team was led by head of real estate in Northern Ireland and partner, Julie Galbraith, supported by director Amanda Byrnes, senior associates Graeme Corry and Nick Nolan, associate Emma McCammon and trainee solicitor Adele McCafferty. Corporate advice was provided by partner James Morrison, alongside associate Ben Palmer and paralegal Josh McClurg. The banking team was led by partner Richard Holmes with support from senior associate Eleanor Steele. Construction input was provided by partner David McNeice and director Julie-Ann McCaffrey, and tax advice by senior associate Alex Tolcher.
Michael Herbert, commented: “We are delighted to add the Abbey Centre to our growing portfolio. It has long been a well-established and a key retail destination for the Greater Belfast area, and we see strong potential to build on that. This acquisition reflects our confidence in the Northern Ireland market and our long-term commitment to investing in strategic, high-quality assets that serve their local communities and will create further employment opportunities across the region. We are grateful to the team at DWF for their expert guidance and collaborative approach, whose local insight and commercial expertise were instrumental in delivering another complex transaction for The Group.”
Julie Galbraith, head of real estate in Northern Ireland and managing partner of DWF in Belfast, said: "We are pleased to have supported the Herbert Group on another key acquisition that underscores the continued strength of Northern Ireland’s retail investment market. The AbbeyCentre is a landmark asset, and this deal demonstrates The Herbert Group’s ongoing commitment to investing in the region. It’s been a pleasure to work alongside The Herbert Group and their professional advisors to deliver this transaction."
Located in Newtownabbey, just six miles from Belfast city centre, the AbbeyCentre is a 319,673 sq ft indoor shopping complex, boasting over 70 retail units, including Primark, Next and Dunnes Stores. With over 1,100 free parking spaces and an annual footfall of approximately 4.9 million, Abbey Centre serves as a vital retail hub for the Greater Belfast area.
The acquisition represents another major strategic investment by The Herbert Group. Previous landmark deals include the acquisitions of Lesley Forestside shopping centre in south Belfast and Lesley Bloomfield shopping centre in Bangor – both of which have continued to thrive as key retail destinations within their local communities.
A multi-disciplinary team from DWF advised Herbert Group on all aspects of the acquisition and financing. The real estate team was led by head of real estate in Northern Ireland and partner, Julie Galbraith, supported by director Amanda Byrnes, senior associates Graeme Corry and Nick Nolan, associate Emma McCammon and trainee solicitor Adele McCafferty. Corporate advice was provided by partner James Morrison, alongside associate Ben Palmer and paralegal Josh McClurg. The banking team was led by partner Richard Holmes with support from senior associate Eleanor Steele. Construction input was provided by partner David McNeice and director Julie-Ann McCaffrey, and tax advice by senior associate Alex Tolcher.
Michael Herbert, commented: “We are delighted to add the Abbey Centre to our growing portfolio. It has long been a well-established and a key retail destination for the Greater Belfast area, and we see strong potential to build on that. This acquisition reflects our confidence in the Northern Ireland market and our long-term commitment to investing in strategic, high-quality assets that serve their local communities and will create further employment opportunities across the region. We are grateful to the team at DWF for their expert guidance and collaborative approach, whose local insight and commercial expertise were instrumental in delivering another complex transaction for The Group.”
Julie Galbraith, head of real estate in Northern Ireland and managing partner of DWF in Belfast, said: "We are pleased to have supported the Herbert Group on another key acquisition that underscores the continued strength of Northern Ireland’s retail investment market. The AbbeyCentre is a landmark asset, and this deal demonstrates The Herbert Group’s ongoing commitment to investing in the region. It’s been a pleasure to work alongside The Herbert Group and their professional advisors to deliver this transaction."
