St George launches sale of retail & leisure hub located on the Elizabeth Line

St George PLC, a member of the Berkeley Group, is launching the commercial and leisure hub at Dickens Yard in Ealing to the investment market.

This announcement follows the long-awaited opening of the Elizabeth Line in May 2022, which is accessible via Ealing Broadway station.

The 91,000 sq ft retail and leisure scheme boasts a weighted average unexpired lease term (WAULT) of 13.64 years, with 44% of income subject to index linked rent reviews. Current key tenants include Gail’s Bakery, Gymbox and BrewDog.

Sam Waterworth, partner at Knight Frank who will be handling the sale, commented: “Dickens Yard offers a fantastic opportunity for an investor to acquire a high yielding, London retail and leisure hub in a major growth location. 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, said: “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.”

Ealing Broadway is a key interchange station on the new line and connectivity to Central London has dramatically improved with Liverpool Street just 22 minutes away. Canary Wharf is also accessible in less than 30 minutes.

Dickens Yard has played a vital role in the wider regeneration of Ealing ahead of the opening of the Elizabeth Line, and includes 700 apartments which completed in 2019, as well as a range of public spaces.