Fiduciary and administration services provider Estera has been involved in reportedly the largest property transaction to complete following the UK’s Brexit announcement in June.
The group’s Jersey real estate team acted as majority director for BL Development – an investment vehicle controlled by Abu Dhabi Financial Group (ADFG) based in Abu Dhabi – on its acquisition of New Scotland Yard in London for £370m, which completed on 1 November.
The intention is to develop the site, which will be named the The Broadway. It is scheduled to complete in 2021, providing 485,000 sq ft of residential space, 146,000 sq ft of commercial space and 37,500 sq ft of retail.
Estera Director Brendan Dowling led the team and was supported by Group Manager Niamh Fountaine and Senior Client Managers Kirstie Le Feuvre and Ginette Fullerton.