British Land snaps up shopping centre in Ealing

British Land has expanded its London portfolio with the purchase of a number of properties from Dutch real estate group Weraldhave, including the Ealing Broadway Shopping Centre.

British Land has expanded its London portfolio with the purchase of a number of properties from Dutch real estate group Weraldhave, including the Ealing Broadway Shopping Centre.

The acquired portfolio cost the FTSE 100 company £183.8m, with the Ealing retail asset being worth £142.5m alone.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

It has 300,000 square feet of retail and leisure space, 800 car parking spaces and a multi-let office over a 7.5-acre site.

"Ealing Broadway is an attractive convenient shopping destination in West London, well located in the centre of Ealing and close to the train and tube station," British Land said.

Advertisement
Advertisement - Article continues below

The firm added that the shopping centre "dominates" the retail offer in the town centre with an annual footfall of around 15m. Of the 1.6m people who live in the area, over a third are in the key retail spending group of 25-44 year olds, the firm added.

British Land's Head of Retail Charles Maudsley said: "We are delighted to have bought Ealing Broadway Shopping Centre. It is a highly attractive retail destination which meets the needs of today's consumers for convenient, well-located shopping.

"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."

The rest of the acquired portfolio includes five retail and office properties in Baker Street, Chiswick High Road, Putney High Street, Fulham Road and Great Portland Street, which were bought for £41.3m.

Advertisement

Recommended

Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020
Visit/investments/stocks-and-shares/share-tips/600636/class-acts-going-cheap-buy-into-europes-best
Share tips

Class acts going cheap: buy into Europe’s best bargains

Value investing appears to be making a comeback, while shares on this side of the Atlantic are more appealing on metrics such as price/earnings ratios…
16 Jan 2020

Most Popular

Visit/economy/global-economy/600991/helicopter-money-is-coming-very-soon-but-what-form-will-it-take
Global Economy

Helicopter money is coming very soon – but what form will it take?

We’re heading for a”new normal”, says John Stepek – fiscal stimulus, and lots of it. Here’s what that really means.
16 Mar 2020
Visit/investments/600992/the-helicopters-are-being-warmed-up-we-might-be-closer-to-a-bottom-than-you
Investments

The helicopters are being warmed up – we might be closer to a bottom than you think

Governments are starting to act to bolster their economies against coronavirus. But, asks John Stepek, will throwing money at the problem slow the mar…
17 Mar 2020
Visit/investments/funds/investment-trusts/600975/now-could-be-a-good-time-to-bag-an-investment-bargain
Investment trusts

Now could be a good time to bag an investment bargain

We like investment trusts here at MoneyWeek. And they can be even better during a market crash.
16 Mar 2020
Visit/investments/commodities/600729/the-rare-earth-metal-that-wont-be-a-secret-for-long
Sponsored

The rare earth metal that won't be a secret for long

SPONSORED CONTENT – You can’t keep a good thing hidden forever; now is the time to consider Pensana Rare Earths and the rare earth metals NdPr.
31 Jan 2020