A 87-ACRE land bank near Belfast, previously owned by Taggart Holdings, has been sold to a new Northern Ireland-based property consortium in a multi- million pound deal.
The Dermont Group, which is a joint venture between Donegall Place Investments and the McGinnis Group, has acquired the land bank from two former Taggart companies now in administration. The companies in question – Taggart Estates Ltd and Taggart Homes Belfast 1 Ltd – owned five sites and a part share in a sixth close to Belfast city centre.
The Dermont Group has confirmed it purchased the sites from administrators, PricewaterhouseCoopers, for an undisclosed sum.
The land bank, which was previously owned by Fraser Estates, had been on the market since last November. Taggart bought the sites at the height of the property boom in the North for an estimated £100 million.
The sites are in prime locations in east and south Belfast and with the exception of about 0.5 of an acre, have outline or full planning permission for residential developments.
