Benson Elliot acquires Arcadia Site in London’s Ealing town centre
Benson Elliot Capital Management, the UK-based private equity real estate investor, has exchanged contracts with Malcolm Shierson and Martin Ellis of Grant Thornton for the acquisition of the Arcadia Site, the major part of a 2.8-acre island-block in Ealing town centre, West London.
Grant Thornton was acting as joint administrator of Glenkerrin (UK) and joint LPA receiver over the assets of The Broadway Partnership
The site, which comprises the Arcadia shopping centre and a number of adjacent high street retail units, dominates the heart of Ealing’s Broadway retail pitch. On completion of the transaction, Benson Elliot plans to undertake a phased redevelopment, details of which will be provided in due course.
Phil Irons, partner at Benson Elliot, says: “This is a great opportunity to revitalise a key part of Ealing’s town centre and we look forward to working with Ealing Council and the local community to realise its potential.”
Shierson adds: "This is a strategically important site for Ealing and we are pleased to have found a purchaser whose aspirations for the asset are aligned with its potential.”
London & Associated Properties and GCW advised Grant Thornton in the transaction, while Strutt & Parker advised Benson Elliot.
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