|Sold! Ealing Broadway Shopping Centre Changes Hands|
New owners hope to develop the centre as retail destination
Much anticipated and as reported in January, Ealing Broadway Shopping Centre has changed hands again.
It's been bought by property specialist British Land from Dutch fund managers, Wereldhave, for £142.5 million pounds.
The sale is a sign of commitment to the area and experts believe it indicates the Crossrail effect beginning to have an impact.
Jefferies analyst Mike Prew is quoted: ''Crossrail is going to completely reshape the residential and commercial demographic in London. East and west London are looking more interesting now.''
Ealing’s centre is almost 30 years old and has faced stiff competition from Westfield in Shepherd's Bush, however, British Land retail head Charles Maudsley said:
''We believe there are opportunities to develop the shopping centre as a retail destination both as we improve the retail mix and increase the leisure offer and as the area benefits from residential development and the completion of Crossrail.''
11 February 2013