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Dubai-based Shuaa Capital’s subsidiary, Northcare, has just topped out one of the largest construction projects in Central London.
Workers at The Broadway, a mixed-use development that will provide premium residential and commercial space, have completed the final floor of the 75-metre high project, Shuaa said in a statement to the Dubai Financial Market (DFM) on Tuesday.
The development that offers views of some of London’s iconic landmarks is dubbed as one of the “largest, high-end residential schemes” in the UK capital.
Northcare, the UK-based luxury property developer that is wholly owned by Shuaa Capital, had earlier said it has seen a marked increase in interest from buyers despite the global economic slowdown caused by the coronavirus pandemic, with sales in the last six months totalling more than $51 million (£40 million).
“The topping out of The Broadway development marks significant progress for Northcare. We recently highlighted the continuing strong demand for Northcare’s projects, underpinned by attractions of the prime Central London market,” Mustafa Kheriba, Shuaa Capital deputy CEO and Northcare executive director.
Important milestone
Topping out is an important milestone in the construction of a building, as it marks the installation of the final piece of the structure or completion of the final floor.
The Broadway is located on the site of the former New Scotland Yard Metropolitan Police Headquarters. It will provide 355,000 square feet of high-end residential space, alongside 117,000 square feet of office space and 27,000 square feet of retail units.
“This is an exciting milestone in the making of our first mixed-use development, creating one of the largest, if not the largest, high-end residential schemes in London,” said Niccolo Barattieri di San Pietro, chief executive at Northcare.
“We knew that we would be maximising the views offered by this development, but it is simply breathtaking to look out across London’s most iconic landmarks both old and new,” he added.
The developer is also currently working on another development, No. 1 Palace Street. The company reported in July a threefold increase in sales enquiries during the first half of the year.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
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