Investors sought for huge retail development
It's being reported on Property Week website that the owners of Ealing Broadway Shopping Centre are putting it up for sale.
Legal & General Property is selling the centre for around £150m. Knight Frank has been appointed to approach a number of investors regarding the 275,000 sq ft retail scheme.
The mall, which was opened in 1985 and consists of 82 retail units, is let to tenants including Argos Extra, Marks & Spencer, New Look, Primark and Tesco.
Legal & General has been investigating options for the shopping centre for a number of years. Ealing Broadway and Priory Meadow will join a number of large retail schemes on the market, including Westfield and Hermes' CastleCourt mall in Belfast which is being sold for around £170m,
SWIP's Kingfisher Shopping Centre in Redditch which is up for sale for around £150m, and Houndshill in Blackpool which is being marketed for around £95m. All parties declined to comment to Property Week.
In May Ealing's Arcadia Centre was taken over by administrators after a hearing decided in favour of the Irish Government's debt recovery agency's application to seize the centre from Glenkerrin.
4th July 2011