The disputable tycoon specialist, who likewise claims the Sports Direct chain, was seen in Belfast yesterday evening.
It's comprehended he could be going to assume control Donegall Arcade - which houses organizations including HMV and TK Maxx.
It would be his first real property bargain in Northern Ireland, and it comes weeks after it was uncovered Ashley is on course to assume control Irish rebate retail chain Heatons, which has 10 stores in Northern Ireland.
Donegall Arcade was once in the past claimed by Dungannon engineer Peter Dolan. Yet, a large portion of his organization's credits were consumed into the Republic's terrible bank Nama, with obligations exchanged to US vulture store Cerberus.
Presently, 51-year-old agent Ashley - why should said be worth more than £3bn - looks set to assume control over the retail site.
His fortune is spread over his retail domain, alongside his stake in Newcastle United.
He framed Sports Direct in 1982. It's an organization which now gloats 500 stores over the world.
Different retailers possessed by the organization incorporate USC.
Games Direct coasted on London's FTSE 100 stock trade in 2007, and from that point forward the offer cost has risen impressively.
A representative in the interest of Mr Ashley's Sports Direct affix did not wish to remark.
Donegall Arcade is at present completely involved.
In any case, one of its bigger units is as of now sitting unfilled after hardware chain Curry's hauled out this year.
It's comprehended that a sportswear chain other than Mr Ashley's Sports Direct had been reserved to assume control over the £235,000-a-year spot in the arcade.
The unit is being advertised by business property firm CBRE.
Beside the enormous name retailers, Donegall Arcade likewise houses Shuropody and Game.
Donegall Arcade had once worked under Peter Dolan's Jermon Developments, which obtained it for £26m in mid 2005 and declared arrangements for its redevelopment.
In any case, the organization entered organization in 2011, with Keenan Corporate Finance delegated as the director.
Presently, an arranging application has been submitted for the benefit of Keenan, which would see the substitution of windows at the first floor level, alongside different modifications to the building.
In the mean time, Mr Ashley is presently on course to assume control Irish rebate retail chain Heatons.
Furthermore, Belfast-conceived Heatons overseeing executive John O'Neill - who has been with the organization since 1986 - is among the chiefs to offer up to the very rich person's Sports Direct organization.
Games Direct effectively claimed half of the shares in Heatons, yet has now struck a €47.5m (£34.8m) arrangement to purchase up the garments and homeware retailer.
Heatons has 44 stores in the Republic of Ireland and also its 10 outlets here.
Mr Ashley secured a beginning concurrence with minority shareholder Sandra Minor to purchase a stake in Warrnambool, the holding organization of Heatons.
At the point when that arrangement experiences, Sports Direct will possess more than half of the organization.
£26m
Value Jermon paid for arcade in 2005 preceding entering administration.
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