Network Rail buys Victoria Place
Published: 27 September, 2011
Network Rail has bought the 83,000-sq ft Victoria Place shopping centre at Victoria station in London from William Ewart for £91.8m
Network Rail has bought the centre above Victoria Station, where it already owned the freehold. The move is aprt of a plan to reduce congestion in the station by reconfiguring retail space and linking through to the shopping centre, while enhancing the retail offer with new shops, restaurants and bars.
There is currently retailing over three levels with 35 units and 11 permanent kiosks anchored by Sainsbury’s, with a mix of casual dining, fashion and convenience brands.
Mike Goggin, Network Rail’s director of stations and customer service, said: “Over 70m passengers rely on Victoria station for their journeys every year, making it one of the busiest stations in Britain. With this number of passengers the station can become very busy, particularly at peak times.
“The purchase of Victoria Place shopping centre will allow us, in due course, to reconfigure the current concourse to give passengers more space to move around, while at the same time continuing to provide the wide range of retail facilities people rely on at busy mainline stations.”
Lunson Mitchenthall acted for Network Rail.
