The Metropolitan Police yesterday handed over the keys of its New Scotland Yard headquarters in one of the biggest property deals to complete since the UK’s Brexit vote.
BL Development Limited, an investment vehicle controlled by UAE-based Abu Dhabi Financial Group, acquired the building for £370m in December 2014.
Property development company Northacre has been appointed to undertake the construction and development of the building, which will be named The Broadway. Planning consultants Bilfinger GVA and architects Squire & Partners have also been appointed.
After winning planning approval in April this year, Northacre is planning to create a new commercial and residential building, aiming for completion in 2021.
The Broadway, found near Victoria, will have 485,000 sq ft of residential space, 146,000 of commercial space and 37,500 for retail.
After 49 years in the building, the Met Police’s new headquarters is Curtis Green on Victoria Embankment.
Northacre chief executive Niccolo Barattieri di San Pietro said: “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.”