Property

Investment opportunity at London's The Broadway

The Broadway

Among London’s seemingly endless regeneration areas, the West End is perhaps the most curious one. On the surface, prime central SW1 — the City of Westminster — is the postcard London of movies, screensavers, and property brochures. But like so many swathes of the city, Westminster was in dire need of refreshing, if only to keep pace with swish and far cooler locations like King’s Cross, Canary Wharf and the docks, and burgeoning Nine Elms. Regeneration plans are well underway now, and joining the cityscape come 2021 is Northacre’s The Broadway, a rare opportunity in the city’s golden postcode.

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Banking on the future

The Broadway describes itself as the best of the old and the new, catering to the preferences of today’s discerning investors. In SW1, it’s in the heart of London, surrounded by the best of the city’s retailing, leisure, and cultural destinations, with neighbours such as the London Eye, Buckingham Palace and the Houses of Parliament. The district is already the centre of attention for investors, both locally and globally, and The Broadway aims to redefine how people live, work and play in the city centre.


The Broadway

And in the heart of the city it is. There’s plenty of debate as to what constitutes central London, but the West End and Westminster in general are really it; The Broadway sits on the site that was once New Scotland Yard. When complete, The Broadway will be less than 25 minutes on the Tube to Paddington, Bond Street, Canary Wharf and King’s Cross, and under 20 minutes to St James’s Park Mayfair, South Bank, and Westminster Abbey on foot. For investors, the commitment to socalled ‘Westminster Cool’ is complemented by the borough’s values being the highest in London — and staying that way for the foreseeable future. According to research by Barclay’s, property gains in the district (which includes Mayfair, Belgravia, Marylebone, Pimlico and Fitzrovia) are predicted at 32% through to 2031. On top of that, Westminster is carving out its own creativity niche to rival other hip locations.


The Broadway


The Broadway

“Our location geographically is phenomenal. Victoria, SW1, Westminster, whatever you want to call it, is very diverse,” argues Simon Edwardson, head of sales for Northacre. “We’ve got Deutsche Bank asset management moving in, Burberry headquarters, Marc Newson and Tom Ford, Jason Atherton. We’ve got a sense of space in an already exceptional postcode. And I think that is the key story.”

The Broadway is fortunate to have an ideal location to go along with innovative design, as the news out of the UK as Brexit negotiations stall and Prime Minister Theresa May faces intra-party challenges is not all that good. The market is nowhere near to collapsing, but the prognosis could be better. But Edwardson sees the five year completion date as playing in The Broadway’s favour, and Londoners have been here before. “In 2009, we had a real issue — the subprime lending that caused that [crisis]. I agree. There is uncertainty. We have a culture in the UK of worry. Everyone was worrying, and worrying, and worrying about Brexit. We have had price corrections, but when we have these blips we create these new opportunities,” he says.

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The Broadway

Banking on the future

Northacre CEO Niccolò Barattieri di San Pietro claims The Broadway, on two hard-to-come by acres, will be a first of sorts, six towers around a central piazza, with 20,000 square feet of public space featuring public art, just minutes from Regent’s and Hyde Parks. And as a Northacre development, he promises another level of product and experience. “There are a number of developments in London that claim to be the most luxurious, the best on themarket,” says San Pietro. “The Broadway is different for several reasons. It’s a standout commercial, cultural and creative destination. Creating a vibrant community is at the centre of the scheme. To say it has incredible views is an understatement. Luxury living today is much more than four walls. The Broadway is all about lifestyle and experience.”

Most of Northacre's past developments have been planned, developed, built and designed by the firm. The Broadway is one of the few that was designed by an outside architect – Squire & Partners, though the interiors will be kept in-house. In common areas, bright colours and modernist design will keep the spaces from feeling sterile, and two podium gardens will create an urban haven. The development’s 285, one- to four-bedroom flats will be spread across six towers named after the world’s great gems: The Sancy, The Paragon and The Cullinan diamonds. Three colour palettes, almost three-metre ceilings, state-of-theart designer kitchens and baths, materials including oak and marble define the interiors, and residents’ amenities feature meeting rooms, a lounge, games room, screening room, and full fitness facilities. San Pietro credits Northacre’s philosophy for creating what he is sure will be one of London’s premier addresses. “We’re not just another transactional firm; we’re passionate about creating homes that people actually live in.”

London may be at a crossroads, but under any circumstances, the cream rises to the top. “If you’re best in class, you’ll attract buyers. I understand the concerns, but London is still a haven,” finishes Edwardson. “We’ve gone through some horrible cycles in the last 25 years and we’ve come out of them.”

Prices at The Broadway begin at approximately £1.5 million (HK$15.5 million). For more details, refer to www.thebroadwaylondon.com, or contact joint agents Savills on +852 2842 4533, or JLL on +852 3759 0909.

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