This site comprises the former Chelsea Police Station and was acquired through a two stage competitive bidding process directly from the Metropolitan Police. The sale constituted the disposal of a public asset and therefore was heavily scrutinized; as such we were required to provide a bank statement illustrating the £40m purchase price, transfer £20m to our solicitors account within 24 hours of our offer being accepted, and exchange contracts two weeks thereafter. On the basis that we complied with all stipulations imposed the Mayor’s Office agreed the sale.
The property was acquired without the benefit of planning permission and our intention was to redevelop the site into a high-specification residential scheme comprising 66 private apartments across 11 storeys spanning 160,000 square feet.
Having assembled the planning team and obtained the support from the Royal Borough of Kensington & Chelsea for our proposed development a lucrative offer was received from a UAE fund which was accepted and the project exited.