UK developer Northacre and the Abu Dhabi Financial Group have announced the appointment of JLL as the Middle East agent for their London-based project, The Broadway.
Set to complete in 2021 and located in the heart of Westminster, JLL will spearhead sales activity for the new 1.72 acre residential and commercial development.
A mixed-use real estate project located at the former New Scotland Yard headquarters in Westminster, The Broadway will span 93,000m2 and include six towers in total.
Simon Edwardson, head of sales at Northacre, said: “The Broadway will be a substantial residential, commercial, cultural and creative hub for London, surrounded by the Capital’s most iconic landmarks.
“We have selected a team of property advisers who impressed with their expertise, extensive experience and specialist sector knowledge and we look forward to working with them to launch The Broadway later this year.”
With nearly half a billion pounds invested into London from the Middle East in 2016, the luxury real estate market in London is still attracting significant investment from the region.
Strong demand from Middle East buyers for specific London properties continues, especially within Prime Central London, according to JLL.
“We are looking forward to marketing one of the most exciting and significant new schemes set to launch in London in recent years,” said Andrew Frost, head of residential - EMEA at JLL.
“Buyers are always seeking the best and most fashionable addresses and Westminster is currently re-defining the residential preferences of London buyers.”
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 1.25 billion GBP.