Northacre awards Multiplex $528mn contract to redevelop London’s New Scotland Yard
Multiplex has emerged as the preferred contractor to build a residential and commercial complex on the former Metropolitan Police HQ site at New Scotland Yard in London.
The $528mn project, named The Broadway and developed by Northacre, will see the construction of six 14-20-storey towers that will house 268 apartments and 142,000 sq ft of commercial and retail space.
Multiplex will take over the 1.7-acre site in January 2019 and expects to finish the development by December 2021.
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David Harman, Development Director of The Broadway for Northacre, commented: “This is a major milestone for the project and demonstrates our commitment to delivering a world-class, vibrant destination located in one of the capital’s most exciting areas.
“We look forward to working alongside Multiplex to realise our vision and see them forge ahead with construction. To date, all milestones have been delivered ahead of programme, from securing planning consent in 2016, completing demolition of the existing 1960s’ 22-storey building in 2017 and more recently finishing the piling phase in June 2018.”
Multiplex fended off competition from Skanska to secure the development contract, with Mace and Sir Robert McAlpine also reportedly interested bidding for the work.
Finance for the project is coming from the UAE in the form of BL Development, an investment arm ran by Abu Dhabi Financial Group which bought the New Scotland Yard plot in December 2014 for $488mn.