Wed, 03 Jun 2026 | COMMERCIAL PROPERTY
Sports Direct owner Frasers Group has expanded with the acquisition of two major retail schemes in Northern Ireland. The retail group has acquired The Boulevard, Banbridge and The Junction Retail and Leisure Park in Antrim from The Lotus Group.
The Lotus Group acquired the sites then known as Junction One, Antrim and the Outlet, Banbridge in 2016, with the aim of reviving the fortunes of the two locations. The group subsequently undertook investment to redevelop and rebrand the sites.
The Boulevard, Banbridge now features major brands including GUESS, kate spade ny, Whistles, Phase Eight, Hobbs, Nike, Jack Wills and Timberland. At the beginning of this month, Lotus completed the handover of the site to Hollywood Bowl, ahead of its planned opening in the Autumn.
The Junction Retail and Leisure Park recently saw the opening of Northern Ireland’s second outlet of the Popeyes restaurant chain and was chosen by garden centre retail Dobbies as the location for its largest UK store.
Alastair Coulson, Managing Director of Lotus Property, said that the sites have “performed well beyond our expectations” and that both were now "busy and bustling retail hubs, with The Junction serving a loyal community in Antrim and the surrounding towns and The Boulevard, drawing visitors from across Northern Ireland and attracting cross-border traffic from Ireland daily.”
Coulson continued: "We have had much interest over the years in terms of buyers but we've always been keen to deliver what we set out to do. We've done that – and now feels like the right time to hand these assets over to a buyer we know can take them to the next level again.”
"Both schemes will continue to trade business-as-usual and will continue to thrive under the stewardship of the long-standing centre management teams, and property management partners who have all played a monumental role in the successful rebrands and growth of both destinations."
Savills acted on behalf of the vendor on the transaction, with Ben Turtle, Head of Savills Northern Ireland, saying that the sale “reflects continued investor confidence in well-positioned retail and leisure assets across Northern Ireland.”
He added: "Both The Junction and The Boulevard are established destination schemes with strong occupier line-ups, resilient trading performance and significant regional catchments. The successful completion of this off-market deal demonstrates the ongoing demand for high-quality retail assets that can deliver long-term value and growth potential."
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