Property developer Northacre is to invest £10 million into the redevelopment of the listed 1 Palace Street, adjacent to Buckingham Palace. 

The former office of the Department for International Development is set to become a residential development in central London.

Northacre chief executive Niccolo Barattieri di San Pietro said: "We believe that 1 Palace Street will be the leading high-end residential development in prime central London for the coming years."  

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