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Middle East investment firm buys New Scotland Yard for £370m

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The Metropolitian Police’s New Scotland Yard headquarters have been sold to Abu Dhabi Financial Group in a £370million deal which will see structure replaced with a ‘landmark’ mixed-use scheme

In an agreement signed by Mayor of London Boris Johnson today (9 December), the 0.69hectare Westminster site marketed as ‘Ten Broadway’ will be redeveloped by the investment company as a residential-led development.

City Hall said Abu Dhabi Financial Group’s bid had been the best of 11 credible offers, and that the firm had a track record of financing major central London developments, including the 1 Palace Street project adjacent to Buckingham Palace.

Abu Dhabi Financial Group chief executive officer Jassim Alseddiqi said he was committed to delivering a ‘world class development’ on the site of New Scotland Yard.

‘Ten Broadway will be one of the most important redevelopment projects undertaken in central London this decade,’ he said.

‘With the bid process now complete, we look forward to creating an exceptional new landmark for London.’

An Abu Dhabi Financial Group spokesman told AJ he was unable to provide further details of the plans for Ten Broadway.

The Met is due to move its headquarters to the Curtis Green Building in Whitehall when it vacates New Scotland Yard.

Work on AHMM’s redevelopment and extension of the 1930s structure has just started on site and is being delivered by Arup and BAM.

Designed by William Curtis Green as an annex to a previous New Scotland Yard, the building was occupied by the Metropolitan Police until late 2011.

Curtis Green Building

Source: AHMM

Artists’ impression of AHMM’s plans for the Curtis Green Building in Whitehall, which is to become the Metropolitan Police’s new headquarters

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