Buyer found for Arcadia site

Thu 1 November 2012, 5:42 pm

Private-equity real-estate investor Benson Elliot Capital Management has bought Ealing's Arcadia site from administrator Grant Thornton.

The 50-shop Arcadia Centre was put into administration was after being seized siezed from developer Glenkerrin at the request of Ireland’s National Asset Management Agency, website CoStar reported.

Glenkerrin had been hoping to redevelop the 2.8 acre site with a new mixed-use proposal that included a 26 storey tower, but the brothers behind the company fell into financial difficulties in the last property crash.

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