Planning permission granted

Press Release

12 November 2014

NORTHACRE, THE FORCE BEHIND LONDON'S LEADING ULTRA-PRIME RESIDENTIAL DEVELOPMENTS, ACHIEVES PLANNING PERMISSION FOR EXCLUSIVE No. 1 PALACE STREET DEVELOPMENT

Northacre PLC is delighted to announce that the planning committee of Westminster City Council has granted planning permission subject to signing a Section 106 agreement on the design submitted for the prized No. 1 Palace Street site. A landmark building, the 302,377sq ft development, adjacent to Buckingham Palace uniquely spans five different iconic architectural styles.

Set to complete at the end of 2017, the architecturally complex development is located at the meeting point of St James, Mayfair and Belgravia and will boast the unparalleled attention to detail and industry leading interior design Northacre and it's design studio N Studio have become synonymous with. London's driving force in ultra-prime residential developments, Northacre has long been respected for its unrivalled expertise in reviving prestigious heritage sites, many of which are listed and include Observatory Gardens, Earl's Terrace, The Bromptons, Kings Chelsea, The Phillimores and The Lancasters.

The much-anticipated No. 1 Palace Street site, offers a Grade II listed façade over looking the Palace, which will be meticulously restored and enhanced by Northacre's contact book of specialist craftsmen. Northacre's Design Team have been leading the design in conjunction with Squire and Partners to unlock the potential of this unique site.

The CEO of Northacre, Niccoló Barattieri di San Pietro comments,

 "We are extremely excited to deliver a site that will set a new standard for ultra-prime residential developments in London. No. 1 Palace Street is an exceptional proposition, bridging the best of historic London and new, with outstanding architecture, high-ceilings and contemporary interior design that will tempt the most discerning of buyers.

"We are proud to have been awarded permission for this ambitious and complex scheme. We have spent the last year refining the concept and cannot wait to start work on this important chapter in Northacre's history and the landscape of SW1."

- Ends -

For further information, please contact Emily Shires

APR Communications. E: eshires@aprcommunications.com

T: 020 7351 2227