State assets agency Nama has sold a shopping centre in Dumbarton in Scotland to the London-based firm LaSalle Investment Management for £4.85 million (€5.48 million).

The sum paid for the Artizan retail centre is far less than the £6.5 million at which the development was put on the market late last year. It is less than a third of the £17.8 million paid for the 120,000sq ft centre by the previous owners, Northern Irish firm Jermon, in 2006. Jermon Ltd, part of the Jermon Group, was put into administration in February. Its bankers included Anglo Irish Bank, AIB and Bank of Ireland.