CEG set to deliver Ealing’s first major office scheme in a decade
Commercial Estates Group (CEG) is to bring forward a new 170,000 sq ft Grade A office development, the first major office scheme in Ealing for almost a decade.
Plans for the £50m scheme were rubberstamped by Ealing councillors this month.
The development at 52-58 Uxbridge Road aims to rival office space in the West of London as well as Central London.
It is understood to be the first major new office scheme in Ealing since Neptune Land and Standard Life brought forward Ealing Cross close to 10 years ago.
Hanover Green have been appointed joint agents to market the new space.
CEG said the scheme shows post-Brexit confidence in the location and will capitalise on the arrival of Crossrail in Ealing, providing connectivity to Bond Street in 11 minutes, as well as continued investment into retail and leisure improvements.
Nick Lee, Head of Commercial Development at CEG, said: “Despite the Brexit uncertainty, we are confident that Ealing offers a fantastic investment opportunity, due to the arrival of Crossrail and the fact that it doesn’t have the office stock to capitalise on the significant enquiries in the market place.
“Our proposals will deliver Ealing’s first new Grade A office space in nearly a decade, enabling it to effectively compete with the West End as a prime business location.”
CEG said the scheme will bring substantial economic benefits to the location including:
•£50m private sector investment
•£1.79m in annual Business Rates
•Creating up to 2,300 full time jobs, including construction and permanent jobs
•Investment in transport improvements and cycling upgrades
Demolition is due to commence in April paving the way for the investment. CEG has worked closely with Ealing Borough Council and together the partners are looking to support existing employers in Ealing as well as attracting inward investment to the Borough.
CEG manages a 12m sq ft commercial property portfolio around the UK, of which 52-58 Uxbridge Road has been an asset since 1997.
