Abu Dhabi Financial Group commences development of “The Broadway”
Following the official handover ceremony of the former New Scotland Yard site from London’s Mayor’s Office for Policing and Crime (MOPAC) to Abu Dhabi Financial Group (ADFG), Northacre, London’s leading property development arm and a subsidiary of ADFG, has been appointed to commence the construction and development of the scheme, which will be named ‘The Broadway’.
Assistant Commissioner of the Metropolitan Police, Helen King; ADFG CEO, Jassim Alseddiqi, and COO, Mustafa Kheriba; as well as Northacre CEO, Niccolò Barattieri di San Pietro, marked the completion of this landmark deal in front of the iconic New Scotland Yard sign.
ADFG acquired New Scotland Yard from MOPAC in December 2014 with planning permission for the redevelopment of the site granted earlier in 2016. As development manager, Northacre is set to create a dynamic new commercial and residential destination in the heart of Westminster, appointing the planning consultants Bilfinger GVA and internationally regarded architects Squire & Partners to realise the largest real estate project launched in London since the Brexit vote in June 2016.
Set to complete in 2021, The Broadway will be a vibrant new quarter, providing 485,000 sq ft of state-of-the-art residential space, 146,000 sq ft of commercial space and 37,500 sq ft of retail. The Broadway’s six architecturally striking buildings set over two podiums will provide a generous 20,000 sq ft public realm linking Victoria Street with Broadway Street to the North.
Jassim Alseddiqi, CEO of ADFG, commented: “The acquisition of New Scotland Yard and our plans for The Broadway represent ADFG’s continuing commitment to investing in unique development opportunities in London. The Broadway represents the future of urban living, a thriving destination to live, work and play in a world class address surrounded by unparalleled views of London’s most famous landmarks.”
Niccolò Barattieri di San Pietro, CEO of Northacre, added: “The official handover of New Scotland Yard marks the beginning of the first phase of its development as a destination to be enjoyed by all. The Broadway is an important milestone in Northacre’s history; being our first major mixed-use development it will set a new standard for London living, working and leisure.”