Property developer St George PLC, part of Berkeley Group is to sell the commercial and leisure hub that makes up its Dickens Yard development in Ealing Broadway. It is putting the development up for sale for around £20m.
Since being completed in 2019 it has had mixed success with leisure operators and retailers and many have not survived at the new central Ealing location.
Current key tenants include Gail’s Bakery, Gymbox and BrewDog. Previous tenants included Balans and Jigsaw which closed down.
St George PLC believes the long awaited opening of the Elizabeth Line last month will help attract visitors to Dickens Yard, which previously housed an Ealing Council car park as well as a council swimming pool.
“Dickens Yard offers a fantastic opportunity for an investor to acquire a high yielding, London retail and leisure hub in a major growth location,” said Sam Waterworth, partner at Knight Frank who will be handling the sale. “The state-of-the-art development offers long-dated income, index linked leases and a broad tenant base, encompassing the health & fitness, bars & restaurants, retail, entertainment and education sectors, making it a truly mixed-use asset.”
Piers Clanford, chairman of St George Plc and Berkeley St Joseph, added: “This mixed-use community has truly set a precedent for high-quality development in the borough and we are proud to have played a part in this evolving neighbourhood. We’re seeing strong demand from homeowners wanting to live within walking distance of a whole breadth of retail, leisure and hospitality services, and this is what Dickens Yard provides. We only expect interest in the area to increase with the opening of the Elizabeth line.”
