Berkeley puts Ealing’s Dickens Yard on market

Berkeley Group’s St George business has put the retail and leisure hub at Dickens Yard in Ealing, W5, up for sale on the back of the launch of the Elizabeth Line last month. Knight Frank has been appointed to seek offers exceeding £20.15m. The 91,000 sq ft scheme has a weighted average unexpired lease term of 13.64 years, with 44% of income subject to index linked rent reviews. Key tenants include Gail’s Bakery, Gymbox and BrewDog. Dickens Yard is located close to Ealing Broadway station, which is on the Elizabeth Line. The location also includes 700 apartments that completed in 2019, as well as a range of public spaces. Sam Waterworth, partner at Knight Frank, which will be handling the sale, described Dickens Yard as “a high-yielding London retail and leisure hub in a major growth location”. Waterworth said: “The state-of-the-art development offers long-dated income, index linked leases and a broad tenant base, encompassing the health and fitness, bars and restaurants, retail, entertainment and education sectors, making it a truly mixed-use asset.” Piers Clanford, chairman of St George 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.” View top and average rents in W5 >> To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews