Stretch of Broadway in West Ealing Sold to Developer
Catalyst disposes number of buildings including St James's House
A number of buildings on the Broadway in West Ealing have been brought by a property investment company with a view to redevelopment.
Luxgrove Capital Partners has exchanged contracts with Catalyst Housing Group for the acquisition of a commercial property for an undisclosed sum.
It says the properties are within a development corridor and benefit from significant redevelopment and value-add opportunities.
The portfolio is situated at 99 to 103, and 105 to 113 Broadway, West Ealing, which incorporates St James’s House and the former headquarters of Catalyst.
Lachlan Ross, Founding Partner & Chief Investment Officer, commented, “We are very pleased to have once again demonstrated our capabilities as an investment and asset manager in negotiating and exchanging large commercial real estate transactions. Sourcing and securing assets of this nature through an off-market transaction demonstrates our abilities in the sector. This further reinforces our reputation of being a credible counterparty that executes transactions in a professional manner.
“The location of these properties were compelling attributes for this acquisition. This investment fits perfectly with our plans to increase our footprint in the borough of Ealing across medium and large sites.”
The company has been active during the Covid-19 outbreak completing a large number of transaction over the last 18 months.
William McKenna, Founding Partner & Executive Director of Asset Management, commented, “The deployment of significant capital in to new acquisitions in 2020 and 2021 demonstrates the strength of our platform which constantly sources new investment ideas for our flagship vehicles.
“The acquisition of this commercial portfolio is a fantastic opportunity to challenge ourselves to be innovative, transforming the public realm and delivering a lasting legacy in a borough where our presence is increasing year after year.
“We are very excited to start implementing our asset management plan and look forward to working on this with Ealing Council, the local community and our tenants.”
An associated company Luxgrove Homes is developing the Living Hope Church site by Junction Road and Carlyle Road. There was some controversy after the building collapse prior to planning permission being obtained for its demolition.
September 30, 2021