Jersey firm involved in £370m property deal

Monday 05 December 2016

The real estate team of Jersey trust firm Estera has been involved in what’s being reported as the largest post-Brexit property transaction in the UK.

The firm acted as majority directors for BL Development Limited – owned by Abu Dhabi Financial Group (ADFG) – in its acquisition of New Scotland Yard in London.

It’s being renamed ‘The Broadway’ and when work is finished on re-developing the site in 2021 it’ll provide 485,000 sq ft of residential space, 146,000 sq ft of commercial, and 37,500 sq feet of retail space.

Talking about the deal Estera director, Brendan Dowling, says: “we are delighted to work with ADFG again on such a significant transaction which demonstrates their continued commitment to investing in unique developments in London and is also a real vote of confidence for the UK real estate market following Brexit."