Property

'THE BROADWAY' - A New Quarter Re-defining Westminster

HONG KONG and TAIPEI, Taiwan, Sept. 1, 2017 /PRNewswire/ -- The Broadway, the exciting new residential and commercial scheme from Northacre and Abu Dhabi Financial Group, located at the former New Scotland Yard headquarters in Westminster, is set to re-define how Londoner's live, work and play on the doorstep of the Capital's most iconic landmarks. Set to complete in 2021, The Broadway will be a vibrant 75,000 sq. ft quarter, located in the heart of London's most historic borough and will provide unrivalled views of The Houses of Parliament, Westminster Abbey, Big Ben, Buckingham Palace, the London Eye, St James's Park, Horse Guards Parade and Green Park. Being the centre of attention among investors, a sales exhibition will be held during 9 - 10 September 2017 in Hong Kong.

An apartment terrace at The Broadway with views towards Westminster, The City of London and The Shard beyond.
An apartment terrace at The Broadway with views towards Westminster, The City of London and The Shard beyond.

 

The Broadway's six architecturally striking towers, conceived by Northacre and created by acclaimed architect Squire and Partners, frame a significant 20,000 sq. ft public courtyard and pedestrianised piazza. Fringed by a new array of shops, cafes and restaurants, The Broadway will offer 355,000 sq. ft of state-of-the-art residential space, located from the lofty fourth floor, including 285 apartments, priced from HKD 15.6 million. Two fourth floor, landscaped podiums link the towers, providing a verdant private oasis for residents above the bustle of London's heartland.

Located in the heart of the Capital and one of its most prestigious boroughs, SW1 is ideally situated to make use of everything London has to offer. The exclusive shopping boulevards of Bond Street, Oxford and Regent Street are only 15 minutes away. Residents of The Broadway will benefit from a world-class range of educational institutions. Westminster School, an independent school located next to the iconic Westminster Abbey, regularly achieves some of the highest proportions of pupils accepted at Oxford and Cambridge University, whilst University College London and Imperial College London, which both neighbour the scheme are ranked amongst the top 10 universities worldwide.

Each of The Broadway's buildings has been meticulously designed to protect the views that the conservation area dictates. Taking inspiration from these vistas, the architecture and facades of The Broadway creatively frame each outlook, flooding every apartment with light and allowing most residents to enjoy double aspect views across the iconic London skyline. Inspired by the design of the facades, each building has been named after three of the world's most revered diamonds; The Sancy, The Paragon and The Cullinan -- six new jewels in Westminster's crown.

The Broadway provides 16,000 sq. ft of health, fitness and spa amenities that afford residents the chance to relax and recharge in an exceptional setting. Facilities include an elegant 25m pool, gym and personal training studio, treatment rooms and a spacious, state-of-the-art games room, that can be booked by residents as additional entertainment space, alongside well-equipped meeting rooms, screening room and extensive parking.

Superbly connected, the underground stations of Westminster and St James's Park neighbour the scheme, with Victoria Station, the centre of London's travel network close by. As the area becomes a new thriving business and leisure district for London, The Broadway will add 117,300 sq. ft of state-of-the-art office-space alongside its 25,000 sq. ft retail collection for all to enjoy.

Jassim Alseddiqi, CEO of ADFG comments: "The acquisition of the former headquarters of New Scotland Yard and our plans for The Broadway represent ADFG's continued commitment to investing in unique and iconic developments in London. 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, CEO of Northacre comments: "We are looking forward to creating another prestigious neighbourhood in London; a vibrant new hub for an area, which despite its unrivalled location, views and transport, has long been undervalued."

Driven by international interest that has also benefited from the weaker pound sterling and low interest rates, demand for quality properties in favoured postcodes increased in Prime Central London during the first half of this year.  Accounting for both currency movements and price corrections across the wider prime London market, the costs for a purchaser buying a property in US Dollars has decreased by 30% over the last 3 years.[1]

The Capital is witnessing a new wave of prime locations across Central London, such as South Bank, the City, Marylebone, Victoria and Westminster, which are re-defining the residential preferences of high-net-worth purchasers in London. Over the next five years we predict growth of 15% in this borough, supported by landmark schemes such as The Broadway.[2]

Northacre, with a long history of specialising in revival projects is undertaking the development of The Broadway, a new-build with a similar meticulous ethos. Without exception, every Northacre-managed Prime Central London scheme has delivered a substantial uplift in residential values achieved for the area. In the last 25 years, Northacre has delivered more than 630 properties in London's most sought-after addresses with a value of more than HKD 12.5 billion. Northacre currently has a strong development pipeline in place with a predicted Gross Development value of HKD 20 billion.

The exhibition of the Broadway will be held at The Landmark Mandarin Oriental Hotel in Hong Kong during 9 -10 September 2017 from 10am to 6pm. Visitors can get the first-hand information of this new residential and commercial scheme. JLL and Savills have been appointed as joint agents in Hong Kong.

www.thebroadwaylondon.com

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[1] Ed Lewis, Head of London Residential Development Sales at Savills

[2] Andrew Frost, Head of Residential UK & EMEA at JLL

About Northacre

With 25 years of experience, Northacre is London's leading developer of residences in the most sought-after locations in the Capital.  With architecture at its heart, Northacre distinguishes itself through an intrinsic appreciation for craftsmanship, heritage and innovation.  Each Northacre residence is created as a legacy project, to form something beautiful for generations to come. Northacre is responsible for some of London's most notable developments including The Lancasters, The Phillimores, Kings Chelsea, and The Bromptons.

Alongside The Broadway, Northacre is currently developing No.1 Palace Street in St James's Park, a magnificent scheme of 72 luxury apartments overlooking Buckingham Palace, set for completion in 2019. The Broadway, formerly the headquarters of New Scotland Yard, will be redeveloped to create six architecturally striking buildings providing an exemplary residential, commercial and retail offering with outstanding views, due for completion in 2021.

www.northacre.com
www.numberonepalacestreet.com
www.thebroadwaylondon.com

About Abu Dhabi Financial Group (ADFG)

Through its subsidiaries, ADFG provides an array of financial services and solutions, with a focus on private markets, public markets, debt and real estate. The Group's expertise inspires an active approach, ensuring investments outperform expectations.

Since it was established, ADFG has expanded and evolved to deliver consistent returns to its clients, pursuing a strategy of opportunistic investments across a variety of sectors and geographies. This approach has enabled the firm to successfully adapt to variations in the macroeconomic climate in order to respond to investors' changing needs.

Today, ADFG has assets under management in excess of HKD 39 billion, international offices in the UAE (Abu Dhabi and Dubai), the UK (London) and Eastern Europe (Podgorica), and has received widespread acclaim for its strong track record and pioneering approach to investing.

For further information on ADFG, visit www.adfg.ae

For further information, please contact:

Ruder Finn Asia

Kayley So

Charlene Wan

Tel:+852 2201 6475 / +852 6214 4734

Tel︰+852 2201 6438 / +852 6189 9495

Email:Sok@RuderFinnAsia.com

Email︰Wanc@RuderFinnAsia.com


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