A commercial property research organisation reported earlier this month that Benson Elliot, the current owners of 9-42 the Broadway, are poised to sell their development site which is currently subject to a planning inquiry in May, to British Land in a deal worth in excess of £50 million. Benson Elliot bought the original Arcadia site in 2012 for around £40 million and redeveloped the former Arcadia shopping centre before selling it to a Canadian real estate company for around £37.4 million. None of the parties was prepared to comment at the time of writing of the article. The implications of the impending sale upon the timetable of the public inquiry remain unclear but we are assuming that it will go ahead anyway. The full story is available here.
In the meantime, Save Ealing’s Centre continue to seek funds for the barrister they have engaged for the inquiry and if you have not yet made a contribution it is still possible to do so through their website.