Dubai: The UK developer Northacre owned by Dubai investment firm Shuaa has completed its prestige residential project – The Broadway – in Westminster, London.
The former site of the Metropolitan Police Headquarters was acquired by Shuaa in 2016 for 370 million pounds. It was then transformed into 355,000 square feet of high-end residential space, including 16,000 square feet for health and wellness facilities. It has 258 apartments, 116,000 square feet of office space, and 27,000 square feet of retail
“At the time it was the biggest land deal in the capital since the Brexit announcement,” said Jassim Alseddiqi, Managing Director of Shuaa Capital and Chairman of Northacre. “We moved on to achieve Section 106 planning permission in fewer than six months which is a testament to the Northacre team for driving such a successful and well-received proposal.
Recently, Shuaa confirmed it’s expanding the scope of Northacre’s project portfolio to take on overseas ventures, including in the Gulf markets.
The Broadway’s location is on a prime thoroughfare, Orchard Place, which ‘aspires to be the wellness capital of London’. The site was once home to the orchards of Westminster Abbey, and the new destination’s design ‘seeks to evoke this piece of history through the considered planting at street level and two beautifully landscaped fourth-floor gardens, which will provide an elevated urban oasis above the bustle below’.
“This unique 1.72-acre site presented us with an entirely blank canvas, allowing every aspect of the development to be crafted with uncompromising attention,” said Walid El-Hindi CEO of Real Estate Shuaa Capital and Group CEO of Northacre. “It provided the opportunity for us to bring something entirely new into the heart of one of London’s most historic areas; something reflecting traditional British craftsmanship reinvented with a contemporary twist.”