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Mike Ashley tipped to buy Belfast retail site

Sports Direct founder Mike Ashley is thought to be considering an acquisition of Donegall Arcade, a large retail site in Belfast city centre.

The businessman was in the city yesterday (November 9) discussing the deal, according to The Belfast Telegraph.

The retail arcade is almost fully occupied with businesses including TK Maxx and HMV.

Jermon Developments, led by property developer Peter Dolan, purchased Donegall Arcade for £26m in 2005.

However, the company appointed administrator Keenan Corporate Finance in 2011. Many of Jermon Developments’ loans were absorbed into the Irish bad bank Nama and its debts were transferred to US investment fund Cerberus.

Sports Direct declined to comment.

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