BL adds to Ealing holdings

Published:  08 May, 2017

British Land expands in Ealing with £49m acquisition ahead of Crossrail

British Land has bought 10-40 The Broadway in Ealing town centre from Benson Elliot for £49m. The freehold 1.4-acre mixed-use, multi-let site comprises 21 high street retailers. It covers 70,000 sq ft and is adjacent to British Land’s Ealing Broadway W5 Local retail centre.

The site was previously subject to a residential-led planning application which has now been withdrawn enabling British Land to fully evaluate opportunities to grow value in conjunction with key stakeholders, including Ealing Council.

Charles Maudsley, head of retail & leisure for British Land, said: “Ealing Broadway W5’s outperformance over the last four years gives us considerable confidence to add to our holdings. The assets provide near term income as well as future development opportunities that can be progressed when the time is right.

“The area benefits from excellent transport infrastructure and will be a Crossrail station from 2019. More broadly, Ealing is undergoing a transformative redevelopment including £1bn of new residential and commercial investment that continues to enhance its appeal.”

British Land was represented by Jackson Criss. Strutt & Parker and GCW acted for Benson Elliot.

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