|Broadway Centres Sold to Malaysian Pension Fund|
Both Fulham and Hammersmith bought for over 270 million
Fulham and Hammersmith Broadway Shopping Centres have been sold for over £270 million to a giant Malaysian pension fund.
Trade publication Property reports that CBRE Global Investors has acquired both Broadway centres on behalf of its Malaysian client the Employees Provident Fund.
The fund has paid £270.5m to the William Ewart Group for the combined 260,000 sq ft of retail space at the two centres, both of which average 95% occupancy, and both of which sit on top of a London Underground station.
The Employees Provident Fund is also part of the investment team behind the redevelopment of Battersea Power Station, but this is its first entry into the shopping centre market.
January 16, 2015