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Ballymore to sell off iconic marketplace in London

Irish developer Sean Mulryan's Ballymore Group has put the Old Spitalfields Market in London's East End up for sale.

It is expected to fetch around £100m (€116m). Ballymore is one of the biggest debtors to NAMA.

Sean Mulryan said the money raised from the sale would be ploughed back into Ballymore's other London developments at Embassy Gardens and Leamouth Peninsula.

Old Spitalfields is a Victorian covered market on the edge of the City of London. It has become a major London attraction since being refurbished by Ballymore in 2008.

The refurbishment included developing some modern retail units inside the market and restoring the 19th-century architecture.

The Irish company bought Old Spitalfields in 1999 and since then the Spitalfields area as emerged as London's fashion and creative hub.

Irish Independent