The owners of the New Scotland Yard, the former London home of the Metropolitan police, have won planning permission to turn the 1.7 acre site into a £1bn luxury residential scheme.
The Westminster building, which has been home to the Met since 1967, was sold to Abu Dhabi Financial Group (ADFG) for £370m in December 2014 as part of a strategy by City Hall to sell down one-third of the Met’s estate and cut back on costs.
Planners at Westminster City Council have given the Middle Eastern firm the green-light to demolish the 1960s office block and replace it with six residential towers that will also comprise of office space and shops on the lower floors. The scheme, known as Ten Broadway, will have around 246 flats.
Listed residential property group Northacre are developing the scheme on behalf of Abu Dhabi Financial Group, which is also a major shareholders in the group, while Squire and Partners are the architects.
Niccolo Barattieri di san Pietro, chief executive of Northacre, which is best known for its luxury scheme near Hyde Park known as The Lancasters, said: “Ten Broadway will be a landmark mixed-use scheme of one million square feet, nestled between the historic attractions of Parliament and Buckingham Palace."
“We are very proud to have been awarded planning permission and look forward to starting work on creating an exciting new destination for Westminster," he added.
Work on the development is expected to kick off this year and be ready for completion in 2021.