Home Commercial Property British Land buys Paddington estate for £470m

British Land buys Paddington estate for £470m

by LLP Editor
5th Jul 13 11:22 am

British Land has bought the majority of a 1.2 million square foot estate close to Paddington station for £470m.

The investment in the PaddingtonCentral complex is a sign of confidence in the capital’s Crossrail east-west train line which is expected to boost real estate prices when it opens in 2018.

“PaddingtonCentral is one of London’s most important transport interchanges [and] that’s only going to increase in importance with Crossrail,” British Land chief executive Chris Grigg told Reuters, referring to a planned nearby station.

The total investment in PaddingtonCentral is said to be £750m and it will house firms including AstraZeneca and Nokia.

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