The Fulham Broadway development has been sold for £96.7 million ($175 million). The scheme, completed in 2002, provides 196,499 sf of retail and leisure space with 146 car parking spaces. Located at the junction of Fulham Broadway and Fulham Road in South-West London, it is built around Fulham Broadway Tube station which is solely accessed through the scheme. The tenant line up includes Sainsbury's Central, Warner Village Cinemas, David Lloyd Leisure, Borders and Virgin Megastore. FPD Savills and Jones Lang LaSalle advised Pillar on the sale.
And Omni, a freehold city centre leisure scheme in Edinburgh, has been sold as a working business, including the property assets for £74.3 million ($125 million). Omni is located approximately 250 yards from the eastern end of Princes Street and provides 217,448 sf of leisure space, anchored by a 12-screen Warner Village multiplex. This is complemented by a number of bars and restaurants, together with a Holmes Place health and fitness club and a luxury 66-room hotel. The scheme also includes over 1,000 car park spaces, let to National Car Parks. Pillar was represented by FPD Savills and Montagu Evans.
Pillar chairman Raymond Mould says: "Both schemes offer an unrivalled combination of leisure and retail in prime locations and we are pleased with the prices achieved. These sales are in line with Pillar's stated objective of focusing on its core business of retail parks, both in the UK and Europe, and on City of London offices."
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