Ballymena property firm expands with acquisition of major Derry retail park

A Ballymena property investment company has strengthened its growing retail portfolio with the acquisition of one of Derry’s best-known retail parks in a move that underlines continued confidence in Northern Ireland’s retail warehouse market.

Magmel (Ballymena) Limited, headed by Ryan Walker and owners of Fairhill Shopping Centre and Braidwater Retail Park in Ballymena, as well as Riverside Retail Park in Coleraine, completed the purchase of Faustina Retail Park in Derry last week for an undisclosed sum.

Latest expansion

The acquisition is the company’s first major investment in the North West and follows its purchase of Riverside Retail Park in Coleraine at the end of 2025, continuing an expansion strategy that has seen the Ballymena-based firm grow its presence across Northern Ireland.

Faustina Retail Park extends to more than 102,000 square feet across almost nine acres and is fully occupied by a number of established national retailers, including The Range, Dunelm and Poundstretcher.

The scheme serves shoppers from Derry as well as a significant cross-border catchment from County Donegal.

Strategic location

Situated on the A2 Buncrana Road close to its junction with Strand Road, the retail park occupies one of the main routes into Derry city centre, giving retailers high visibility and easy access for customers.

The development also benefits from extensive customer parking and strong surrounding commercial activity, helping establish it as one of the North West’s principal retail warehouse destinations.

Confidence in the retail market

The latest purchase reflects continued investor demand for established retail parks despite wider challenges across the commercial property sector.

Retail warehouse developments have remained attractive to investors because of their accessible locations, established tenants and comparatively strong long-term occupancy, particularly where they are fully let.

For Magmel (Ballymena) Limited, the acquisition further expands a portfolio that already includes prominent retail destinations in Ballymena and Coleraine, extending the company’s footprint into another key regional market.

The deal is also another sign that investors continue to see long-term value in well-established retail warehouse schemes across Northern Ireland, where demand for high-quality investment opportunities continues to exceed supply.