Linklaters advises Abu Dhabi Financial Group on acquisition of former New Scotland Yard HQ

Largest property deal since Brexit

Linklaters has advised on the completion of the purchase of the former New Scotland Yard headquarters by BL Development Limited, an investment vehicle controlled by Abu Dhabi Financial Group (ADFG), a leading investment firm headquartered in Abu Dhabi, UAE.

ADFG contracted to buy New Scotland Yard from The Mayor’s Office for Policing and Crime in December 2014 for £370m and has subsequently obtained planning permission for the development of the site. The development, to be named ‘The Broadway’, is set to complete in 2021 and will provide 485,000 sq ft of residential space, 146,000 sq ft of commercial space and 37,500 sq ft of retail.

ADFG is an investment group pursuing a strategy of opportunistic investments across a variety of sectors and geographies. It has $4.7bn worth of assets under management.

The Linklaters team was led by Andy Bruce (partner and Head of UK real estate), Paul Wilson (counsel and Head of construction), Imogen Jones (managing associate). Leading on finance was Steve Smith (partner and Head of real estate finance), Paul Lucas (counsel), Tim Sawyer (managing associate) with Liz Conway (partner) advising on tax.

For more information please contact Peter Otero on +44 20 7456 3242.