Northern Ireland

Strabane Retail Park sold to London-based property fund

The Strabane Retail Park, which was owned by a failed County Tyrone developer, has been sold to a London-based property fund.

The park, which was developed by Jermon Ltd, was placed into receivership last year by Anglo Irish Bank.

The Strabane park has been bought by Mansford Real Estate.

It had been offered for sale at £3.8m but it is not clear how much was actually paid.

Mansford has previously been involved in the major redevelopment of an old brewery in Cardiff and once owned a stake in the Chelsea Harbour development in west London.

The firm had no comment to make when contacted by the BBC.

A large amount of commercial property will be offered for sale in Northern Ireland in the next few years as a result of the operations of the Irish government's National Asset Management Agency (Nama).

The BBC understands that a number of UK-based property investors are looking at opportunities in Northern Ireland.