Planning Permission Approved

24 February 2015

NORTHACRE PLC

("Northacre")

Planning Permission Approved for Development of 1.7 acre Ten Broadway Site,

Formerly New Scotland Yard Headquarters

Northacre PLC is delighted to announce the Planning Committee of Westminster City Council has granted planning permission, subject to signing a Section 106 agreement, for the redevelopment of the Headquarters of New Scotland Yard, a site known as Ten Broadway. The development is an exciting opportunity to create a contemporary Westminster destination. It will provide exceptional residential, office and retail space and a generous new public sphere linking Victoria Street with Broadway and Dacre Street to the north.

Niccolo Barattieri di san Pietro, CEO of Northacre comments;

"Ten Broadway will be a landmark mixed-use scheme of one million square feet, nestled between the historic attractions of Parliament and Buckingham Palace. The development is set to complete in 2021 and will feature six architecturally striking buildings, which will each offer outstanding views. The design has been carefully considered to incorporate materials sympathetic to the sandstone and brick of the area. Thanks go to our planning consultants, Bilfinger GVA and the architects Squires and Partners for their unwavering commitment to the scheme.

"We are very proud to have been awarded planning permission for this scheme and look forward to starting work on creating an exciting new destination for Westminster."

Murray Levinson, Partner at Squire and Partners comments;

"Ten Broadway creates six buildings on a plan designed to frame views of the Grade I listed 55 Broadway from Victoria Street. Elevations are composed with a distinctive vertical expression, referencing the local vernacular in the rhythm of façades and the use of materials sympathetic to the area.

"As a whole, the development expresses a transition between the historic development to the north and the more contemporary architecture along Victoria Street, whilst providing exemplary accommodation for local residents and businesses."

- Ends -

Enquiries:

APR Communications

Emily Shires

020 7351 2227 / eshires@aprcommunications.com

Northacre PLC

Niccolò Barattieri di San Pietro (Chief Executive Officer)

020 7349 8000

finnCap Limited (Nominated Adviser and Broker)

Stuart Andrews

020 7220 0500