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British Land expands in Ealing with £49 million acquisition

Shopping centre owner British Land has acquired 10-40 The Broadway in Ealing town centre from Benson Elliot for £49 million.

SHOPPING CENTRES & RETAIL PARKS

British Land expands in Ealing with £49 million acquisition

Shopping centre owner British Land has acquired 10-40 The Broadway in Ealing town centre from Benson Elliot for £49 million.

The multi-let site, which features 21 high street retailers, covers 70,000 square feet and is adjacent to British Land’s Ealing Broadway W5 Local retail centre.

Charles Maudsley, head of retail and 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.”

Since acquiring Ealing Broadway W5 in February 2013, British Land has completed a comprehensive refurbishment and relet almost one third of the centre.

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