Developer acquires Victoria Station retail complex, confirming that shopping centres remain attractive assets despite current trends

High quality shopping centres continue to represent excellent investment opportunities, despite current market trends. October 2007 saw Belfast-based property developer William Ewart, advised by Savills, purchase the long leasehold in the Victoria Place shopping centre. The centre, which is part of London’s Victoria Station complex, was acquired from the Metro Fund for £92.5m, reflecting a net initial yield of approximately 5.1%.

In total, Victoria Place covers 83,000 sq ft and comprises around 45 units arranged over three floors. Its significant growth potential is complemented by a range of strong tenants. The centre is currently fully let to blue-chip companies including Sainsbury’s, Next and Border. The total annual rental income is estimated to be £5.3m.

Back to top