British Land snaps up major west London shopping centre
Retail property company British Land has acquired the Ealing Broadway shopping centre from its Dutch owner in a deal worth £183.8 million.
The west London shopping centre is one of a number of properties bought by British Land from fund manager Wereldhave. The portfolio also includes five retail and office properties in Baker Street, Chiswick High Road, Putney High Street, Fulham Road and Great Portland Street
With 300,000 sq ft of retail and leisure space, Ealing Broadway Shopping Centre attracts an annual footfall of around 15 million. Recently refurbished, the shopping centre has over 60 retail units anchored by Primark, Marks & Spencer, Tesco, River Island and H&M.
Ealing Broadway is set to benefit from the completion of the new Crossrail rail link in 2018, which will result in the journey time to Ealing being just 13 minutes from Heathrow, 19 minutes from Liverpool Street and 26 minutes from Canary Wharf.
Charles Maudsley, head of retail at British Land said: "We are delighted to have bought Ealing Broadway Shopping Centre. It is a highly attractive retail destination which meets the needs of today’s consumers for convenient, well-located shopping.
"We believe there are significant opportunities to grow and develop the shopping centre as a retail destination both as we further improve the retail mix and increase the leisure offer and as the area benefits from residential development and the completion of Crossrail."
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