Benson Elliott Capital Management has been selected as the preferred developer for the 1.7 hectare Arcadia site in Ealing Broadway.
This follows the collapse of the previous developer Glenkerrin, from whom the site passed to irish “bad bank” NAMA. The administrators Grant Thornton have been marketing the site, and have now agreed a sale to Benson Elliot, partnering with Stanhope.
Allies and Morrison have been retained as master planners and architects for the comprehensive regeneration of the site.
Ealing Council say Benson Elliott are now undertaking six weeks of due diligence before completing the purchase. The Council has offered to support compulsory purchase of a small number of units in the site and will also be committing its own landholding to allow development to proceed.
See previous coverage.