SOLD | Tower Centre sold to UK retail giant

Tower Centre: Wellington Street, Ballymena

In a significant move for the retail sector in Northern Ireland, Frasers Group, one of the UK’s leading retail conglomerates, has acquired Tower Centre in Ballymena for an undisclosed sum.

The purchase, confirmed today by the group to Love Ballymena, marks a new chapter for one of Northern Ireland’s pioneering shopping centres, with promises of substantial investment and the introduction of new brands to elevate the shopping experience.

Opened in 1981, Tower Centre was a trailblazer in transforming Ballymena’s retail landscape, bringing major high-street brands to the town and attracting shoppers from across the region.

Years gone by: The Tower Centre in the hayday of town centre retail shopping

Spanning 200,000 square feet, the centre is home to prominent retailers such as Sports Direct, Dunnes, Primark, and Boots, offering a diverse range of shopping options under one roof. At the time of its opening, it was heralded for its convenience and variety, setting a new standard for retail in Northern Ireland.

However, like many high-street destinations, Tower Centre has faced significant challenges over the past four decades. The rise of online shopping, increased competition, and the devastating impact of the COVID-19 pandemic have tested the resilience of retail centres across the UK.

Despite these hurdles, the centre has remained a cornerstone of Ballymena’s town centre, adapting to changing consumer habits.

In 2016, prominent Ballymena property developer Sam Morrison acquired the centre, investing £10 million in refurbishments to enhance its appeal and attract new retailers. Morrison’s vision included ambitious plans to transform the external street aspects of Wellington Street, Lower Mill Street, and Greenvale Street.

Artist’s impression of proposed extensions to the Tower Centre on Wellington Street, and Greenvale Street in Ballymena

While these external extensions did not come to fruition, his efforts laid the groundwork for the centre’s continued relevance.

Now, with Frasers Group at the helm, Tower Centre is poised for a new era of growth. The retail giant, founded by Mike Ashley, has reported revenues exceeding £5 billion in both 2023 and 2024, underscoring its financial strength and retail expertise.

Known for its aggressive acquisition strategy, Frasers Group has a track record of revitalising struggling brands and properties, with a portfolio that includes Sports Direct, House of Fraser, Flannels, Jack Wills, and GAME, alongside stakes in ASOS and Hugo Boss.

A spokesperson for Frasers Group told Love Ballymena:

“Frasers Group has acquired Tower Centre in Ballymena, Northern Ireland. Spanning 200,000 sq. ft., Tower Centre is home to major high-street retailers such as Sports Direct, Dunnes, Primark, and Boots.

“As part of our ongoing strategy, we are committed to investing in the local community by introducing even more exciting brands to the Tower Centre and elevating the shopping experience for customers in Ballymena.

“We see strong potential in Tower Centre and we are focused on creating a vibrant retail destination that meets the needs of the community.

“Tower Centre marks another key acquisition for the Group in Northern Ireland, reinforcing our ambition to invest in high-potential retail properties across the Irish market and reaffirming our commitment to growing our presence across the UK and Ireland.”

The acquisition aligns with Frasers Group’s broader strategy to expand its footprint in high-potential retail markets.

The group’s experience in turning around underperforming assets suggests that Tower Centre could see significant enhancements, potentially including new flagship stores, improved facilities, and a refreshed retail mix tailored to modern consumer preferences.

For Ballymena, the investment is a welcome boost to the local economy. The town has long been a retail hub for Northern Ireland, and Frasers Group’s commitment to introducing new brands is expected to draw more visitors, supporting local businesses and jobs.

The acquisition also reinforces the group’s growing presence in the Irish market, following other strategic investments in the region.

The centre’s strategic location in the heart of Ballymena, combined with Frasers Group’s financial backing and retail expertise, positions it well to adapt to the evolving demands of shoppers in an increasingly digital age.

As high streets across the UK continue to navigate the challenges of online retail and changing consumer behaviours, Frasers Group’s acquisition of Tower Centre signals confidence in the enduring appeal of physical retail destinations.

By leveraging its extensive portfolio and market influence, the group aims to transform Tower Centre into a vibrant, modern shopping hub that serves both the local community and visitors from further afield.