In the first sale, British Land has purchased 10-40 The Broadway, a freehold 70,000 sq ft site adjacent to the new Crossrail station, for £49 million. It comprises 21 high street retail units and borders British Land’s Ealing Broadway W5 local retail centre. The site was previously subject to a residential-led planning application which has now been withdrawn enabling British Land to evaluate future opportunities.
GCW worked with Benson Elliot to prepare the parade of shops on 10-40 The Broadway for redevelopment. GCW and Strutt & Parker acted jointly, running a marketing campaign to a selected short-list of potential purchasers and subsequently agreeing terms with British Land.
In a second deal, GCW acted for Benson Elliot to sell Central Buildings for £7 million to Centrica Pension Fund managed by LaSalle Asset Management. Central Buildings is located next to 10-40 The Broadway and opposite Ealing Broadway station. GCW advised Benson Elliot on the purchase in 2014 and since then has significantly improved the tenant line-up of the eight retail units with offices above.