Abu Dhabi / WAM
Abu Dhabi Financial Group (ADFG) on Sunday unveiled its stunning plans for the redevelopment of New Scotland Yard, a highly-desirable address known as â€œTen Broadwayâ€, following approval from the Planning Committee of Westminster City Council in London, UK.
Northacre London will manage and develop the one million square feet project, creating a contemporary destination, comprising residential, office and retail space, in the prime Central London area. Set to complete in 2021, the impressive six building site has been designed to reflect and embrace existing themes common to the local area.
Jassim Alseddiqi, CEO of ADFG, said, â€œThe approval by Westminster City Council for the redevelopment of the Ten Broadway site is a major milestone in our ambition to replace a world famous headquarters with a world class premises. Throughout this process, the objective has been to create a modern and luxury mixed-use real estate, which complements and adheres to Westminsterâ€™s world-famous aesthetics. The architects have achieved this delicate balance and we look forward to supporting Northacre to create an exceptional new landmark for London. With the Ten Broadway and 1 Palace Street projects in development, ADFG is behind some of Londonâ€™s most desirable new addresses and the largest projects undertaken in Central London this decade.â€
Niccolo Barattieri di San Pietro, CEO of Northacre, added, â€œTen Broadway will be a landmark mixed-use scheme of one million square feet, nestled between the historic attractions of Parliament and Buckingham Palace. The development is set to complete in 2021 and will feature six architecturally striking buildings, which will each offer outstanding views. The design has been carefully considered to incorporate materials sympathetic to the sandstone and brick of the area. Thanks go to our planning consultants, Bilfinger GVA and the architects Squires and Partners for their unwavering commitment to the scheme. We are very proud to have been awarded planning permission and look forward to starting work on creating an exciting new destination for Westminster.â€
In a landmark deal, ADFG acquired New Scotland Yard from the Mayorâ€™s Office for Policing and Crime (MOPAC) for GBP370 million (AED2.1 billion) in December 2014. As development manager, Northacre has appointed the planning consultants Bilfinger GVA, and the architects Squires and Partners, to realise the scheme.
Through its majority stake in Northacre, ADFG is also involved in the redevelopment of No.1 Palace Street, situated in Central London adjacent to Buckingham Palace. With an expected completion date of 2018, this development will comprise 72 luxury apartments, a prominent restaurant and lavish health and fitness facilities within its 302,377 square feet.