LONDON, November 1, 2016 /PRNewswire/ --
Last night saw the completion of the biggest property deal since Brexit, with the official transferral of the former New Scotland Yard headquarters to new owners, BL Development Limited, an investment vehicle controlled by ADFG. Northacre, London's leading property developer has been appointed to undertake construction of the new scheme, named 'The Broadway'.
ADFG acquired New Scotland Yard from the Mayor's Office for Policing and Crime (MOPAC) in December 2014 for £370 million, with planning permission granted in April 2016. Set to complete in 2021, The Broadway will provide 485,000-sqft residential, 146,000-sqft commercial and 37,500-sqft of retail space in the heart of Westminster. The Broadway's six architecturally striking buildings will provide a 20,000-sqft public realm linking Victoria Street with Broadway Street.
Assistant Commissioner of the Metropolitan Police Helen King, ADFG CEO Jassim Alseddiqi, ADFG COO Mustafa Kheriba and Northacre CEO Niccolò Barattieri di San Pietro marked the completion of this landmark deal in front of the iconic New Scotland Yard sign, before its move to the new headquarters on Victoria Embankment.
Jassim Alseddiqi comments;
"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 comments;
"The official handover of New Scotland Yard marks the beginning of the first phase of its development. The Broadway is an important milestone in Northacre's history; our first major mixed-use development which will set a new standard for London living, working and leisure."
Helen King comments;
"The Metropolitan Police Service is focused on providing a more modern, efficient and cost-effective estate, ensuring we remain at the forefront of 21st century policing and get more officers out on the streets, cutting crime and providing total care for Londoners."
"By selling this building and moving our headquarters to Curtis Green, we're able to make savings to invest in frontline policing, improving the technological capability of the force and develop facilities like a brand new, state of the art police training centre in Hendon which was officially opened this month. This is a significant and exciting move for us and marks a new era of policing for the MPS."