We have now received confirmation that Benson Elliot, the current owners of 9-42 the Broadway W5, have agreed heads of terms with British Land to sell their development site which is subject to a planning inquiry in May. 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. 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 original press story suggesting a sale was imminent 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.