Developer Sean Mulryan's Ballymore group has sold a €4m site in the centre of Bristol, in the UK, to Dutch-owned developer TCN. The site is next to the Temple Meads railway station and has been owned by the Irish developer since 2002. Reports in Britain said Ballymore had planned to develop a predominantly residential scheme on the site but the new owner is instead likely to build retail, hotel and leisure facilities.
Meanwhile, the mayor of Berlin, Klaus Wowereit, is supporting Ballymore's €500m plan to redevelop the Kudamm-Karree retail complex in the city. A new theatre and a three-storey retail centre form part of the plan for the centre. Ballymore paid more than €150m for the existing complex.
That scheme is being developed by Ballymore International, which is owned by Mulryan and investors including FBD Holdings, Irish Public Bodies Mutual Insurances and Michael Smurfit.