British Land buys Broadway

broadway shoping centreBritish Land has acquired a portfolio of properties from Wereldhave which includes the Ealing Broadway Shopping Centre.

The portfolio was acquired for £183.8m, with the Broadway accounting for £142.5m of that. The portfolio also includes properties on Chiswick High Road, Putney High Street and Fulham Road.

Ealing Broadway Shopping Centre has 300,000 sq ft of retail and leisure space, including a Virgin Active Gym, as well as parking and a multi-let office. The 7.5 acre freehold shopping centre, which has recently been refurbished and has over 60 retail units, is anchored by Primark, Marks & Spencer, Tesco, River Island and H&M with other occupiers including Boots, Jack & Jones and Wagamama.

British Land say the Broadway has a good future. They expect it to benefit from the development in Ealing, including the Empire Cinema site, Dickens Yard, and the advent of Crossrail.

Charles Maudsley, Head of Retail, said: “We are delighted to have bought Ealing Broadway Shopping Centre. 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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