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The site was previously subject to a residential-led planning application which has now been withdrawn enabling British Land to fully evaluate opportunities to grow value in conjunction with key stakeholders, including Ealing Council.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.”
British Land was represented by Jackson Criss. Strutt & Parker and GCW acted for Benson Elliot.