Erneside Shopping Centre in Enniskillen has officially been placed on the market with a guide price of £15.5 million.
The centre, which offers 171,590 square feet of retail space across a 9.9-acre site, remains one of the main shopping destinations in Fermanagh, drawing steady footfall from both local residents and visitors.
First built in 1989, Erneside has undergone two major phases of expansion and remodelling – in 1998 and again in 2008, when around 21,500 sq ft of additional retail space was added through a two-storey extension. Further developments followed in 2011 and 2012 to accommodate Units 27 and 15.
Today, the scheme comprises 31 retail units and three kiosks at ground level, with a further two units on the first floor.
Parking is provided for 638 cars across two sites: a five-level multi-storey car park to the north-east with 555 spaces, and a ground-level car park to the south with a further 83 spaces.
Disabled parking is available on levels two, four and five of the multi-storey.
In 2024, car parking charges of 50p per hour generated a gross income of £219,680, with a net income of £116,598 after landlord costs.
According to Savills, which is marketing the property, Erneside is currently let across 38 tenancies, producing a gross income of £2,410,073 per annum. After landlord deductions, the net operating income stands at £2,048,205.
Annual footfall remains strong, with over 2.15 million visitors recorded in 2024.
Savills noted, “We are instructed to seek offers over £15,050,000 for our client’s freehold interest excluding VAT. A purchase at this level would reflect a net initial yield of 12.75 per cent assuming purchaser’s costs of 6.73 per cent, and an attractive capital value of £89 per square foot, which is significantly below reinstatement value.”